1/5
While most Democrats and Republicans seem to agree on the urgent need for the US to rebuild its infrastructure so as to make American businesses more efficient and American workers more productive, there are “fundamental disagreements between the...
ft.com/content/d52d49…
While most Democrats and Republicans seem to agree on the urgent need for the US to rebuild its infrastructure so as to make American businesses more efficient and American workers more productive, there are “fundamental disagreements between the...
ft.com/content/d52d49…
2/5
two sides over what counts as infrastructure — not to mention whether or not to raise taxes to pay for it."
In fact whether spending on productive infrastructure investment is paid for through government borrowing, money creation or taxes, the economic benefits of the...
two sides over what counts as infrastructure — not to mention whether or not to raise taxes to pay for it."
In fact whether spending on productive infrastructure investment is paid for through government borrowing, money creation or taxes, the economic benefits of the...
3/5
spending are the same. In each case the increase in the country’s productive capacity will be more than enough to balance the spending.
This doesn’t mean that the way in which the spending is financed is irrelevant, only that its main impact is to determine how the...
spending are the same. In each case the increase in the country’s productive capacity will be more than enough to balance the spending.
This doesn’t mean that the way in which the spending is financed is irrelevant, only that its main impact is to determine how the...
4/5
benefits of future growth are to be distributed. The specifics matter, but funding it with taxes probably means that the benefits go disproportionately to workers and the middle classes (assuming taxes are directed mainly to businesses and the rich), funding it with...
benefits of future growth are to be distributed. The specifics matter, but funding it with taxes probably means that the benefits go disproportionately to workers and the middle classes (assuming taxes are directed mainly to businesses and the rich), funding it with...
5/5
debt disproportionately benefits the rich, and funding it with money creation is probably neutral.
It would be great if there were a way for Congress somehow to separate the spending issue from the issue of how the benefits are to be distributed.
debt disproportionately benefits the rich, and funding it with money creation is probably neutral.
It would be great if there were a way for Congress somehow to separate the spending issue from the issue of how the benefits are to be distributed.
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