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Opportunity Cost and MMT

Debunking Economics - the podcast

CHAPTER

The Opportunity Costs of Government Spending

The UK still has a vision of itself as being back in the days of Churchill and Queen Victoria. So if you're going to reverse that, then of course you need to start rebuilding your manufacturing sector. You need to be paying people decent wages so that the minimum wage is a reasonable living standard for the poor. And you've got to reduce the level of wealth that is taken by the parasites which Karl Marx called 'the roving cavaliers of credit'

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