How is that leaving our kids with a bill, rather than two assets: a pound in savings and a pound's worth of whatever the govt bought with the original Β£ it spent?
#MMTers need not answer.
@mastodonmigration @micahflee Paul Krugman and Stephanie Kelton are two people whose blogs I would often love to share, but won't because they're on Substack.
Any #MMTers reading this will perhaps wonder why I could admire both writers at the same time, given Krugman's consistent misrepresentations of modern monetary theory (because it undermines his own academic work) but the reason is simple: they've both stood in stalwart opposition to US Republicans.
Common ground is where allyship grows.
@jpslaake
Austerity is a political choice.There is a different lens, βmodern monetary theory, β which demonstrates that a state that issues its own currency is not going to run out of money:
https://www.bbc.co.uk/reel/video/p08jbbry/why-we-need-to-debunk-the-deficit-myth-