by Summary:
Governments around the world don’t need to raise taxes in order to transform their economies and avert climate disaste Ann Pettifor hasn't come around to the idea of MMT yet, but it's good news the New Green Deal could pay for itself. So where should the money come from? There are fundamentally only two sources of financing. The first is borrowing (credit). This is achieved by applying for a loan, or issuing a bond. The second is existing savings. To raise the money for a green deal, governments would have to draw on their equivalent of a giant credit card, but would also be able to take advantage of investment by savers. Thankfully, the creation of millions of jobs will generate the income and tax revenues needed to repay any borrowing. As Sanders argues, the whole thing will pay
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Governments around the world don’t need to raise taxes in order to transform their economies and avert climate disaste Ann Pettifor hasn't come around to the idea of MMT yet, but it's good news the New Green Deal could pay for itself. So where should the money come from? There are fundamentally only two sources of financing. The first is borrowing (credit). This is achieved by applying for a loan, or issuing a bond. The second is existing savings. To raise the money for a green deal, governments would have to draw on their equivalent of a giant credit card, but would also be able to take advantage of investment by savers. Thankfully, the creation of millions of jobs will generate the income and tax revenues needed to repay any borrowing. As Sanders argues, the whole thing will pay
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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Governments around the world don’t need to raise taxes in order to transform their economies and avert climate disaste
Ann Pettifor hasn't come around to the idea of MMT yet, but it's good news the New Green Deal could pay for itself.
So where should the money come from? There are fundamentally only two sources of financing. The first is borrowing (credit). This is achieved by applying for a loan, or issuing a bond. The second is existing savings.
To raise the money for a green deal, governments would have to draw on their equivalent of a giant credit card, but would also be able to take advantage of investment by savers. Thankfully, the creation of millions of jobs will generate the income and tax revenues needed to repay any borrowing. As Sanders argues, the whole thing will pay for itself.
The Guardian
Ann Pettifor - The beauty of a Green New Deal is that it would pay for itself