Opportunity Cost and MMT
Debunking Economics - the podcast
00:00
Government Debt
Government spending to GDP has only twice gone over 50% in the UK. If you want to increase number of government services, while not creating too much money for the reasons of putting too much inflationary pressure upon the economy then you've got to increase your tax rate as well. But taxation doesn't need to increase, does it? The spending itself drags the tax level up. We're not talking about deviating from that sort of range with MMT, presumably, we'd still see.
Transcript
Play full episode
