by Summary:
It follows from what has been said that a “shortage” of money with the state is not a technical shortage. Thus, it is never the lack of “money” that causes the state to be unable to spend, but always the lack of resources that causes the state to be unable to get what it wants. Money moves resources. If there are no resources, nothing is moved. However, if resources are the monopolist of money — the government with its central bank — can move it even when the political will is there. This applies to wars, but also to social programmes. The state can always afford to pay money to the poor or create employment for the unemployed. It is always a question of political will....Monetary Policy Institute Blog #106Yes, we can afford democracy — and it should be up to voters to decide what a
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It follows from what has been said that a “shortage” of money with the state is not a technical shortage. Thus, it is never the lack of “money” that causes the state to be unable to spend, but always the lack of resources that causes the state to be unable to get what it wants. Money moves resources. If there are no resources, nothing is moved. However, if resources are the monopolist of money — the government with its central bank — can move it even when the political will is there. This applies to wars, but also to social programmes. The state can always afford to pay money to the poor or create employment for the unemployed. It is always a question of political will....Monetary Policy Institute Blog #106Yes, we can afford democracy — and it should be up to voters to decide what a
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It follows from what has been said that a “shortage” of money with the state is not a technical shortage. Thus, it is never the lack of “money” that causes the state to be unable to spend, but always the lack of resources that causes the state to be unable to get what it wants. Money moves resources. If there are no resources, nothing is moved. However, if resources are the monopolist of money — the government with its central bank — can move it even when the political will is there. This applies to wars, but also to social programmes. The state can always afford to pay money to the poor or create employment for the unemployed. It is always a question of political will....Monetary Policy Institute Blog #106
Yes, we can afford democracy — and it should be up to voters to decide what a government should do
Dirk Ehnts, Torrens University, Australia, adjunct lecturer
Dirk Ehnts, Torrens University, Australia, adjunct lecturer