by Summary:
Wednesday blog post – so only a few snippets including some discussion about Germany’s latest extreme outcome – a record fiscal surplus, which the Ministry of Finance is claiming is responsible. Judged by the fact that the economy has ground to a halt and there is a massive infrastructure deficit in the country as a result of a systematic starving of capital expenditure by the government, one has to ask: are they joking! The surplus was, in part, the result of the German government not spending allocated public investment funds because there are insufficient skilled public servants on tap to manage the projects. So the government has hacked into skilled employment first, then it finds that there are not enough qualified officials left to oversee essential projects. So capital formation
Topics:
Mike Norman considers the following as important: German economy, MMT
This could be interesting, too:
Wednesday blog post – so only a few snippets including some discussion about Germany’s latest extreme outcome – a record fiscal surplus, which the Ministry of Finance is claiming is responsible. Judged by the fact that the economy has ground to a halt and there is a massive infrastructure deficit in the country as a result of a systematic starving of capital expenditure by the government, one has to ask: are they joking! The surplus was, in part, the result of the German government not spending allocated public investment funds because there are insufficient skilled public servants on tap to manage the projects. So the government has hacked into skilled employment first, then it finds that there are not enough qualified officials left to oversee essential projects. So capital formation
Topics:
Mike Norman considers the following as important: German economy, MMT
This could be interesting, too:
Steve Roth writes MMT and the Wealth of Nations, Revisited
Matias Vernengo writes On central bank independence, and Brazilian monetary policy
Michael Hudson writes International Trade and MMT with Keen, Hudson
Matias Vernengo writes Modern Money Theory in the Tropics: A Reply to Agustin Mario
Wednesday blog post – so only a few snippets including some discussion about Germany’s latest extreme outcome – a record fiscal surplus, which the Ministry of Finance is claiming is responsible. Judged by the fact that the economy has ground to a halt and there is a massive infrastructure deficit in the country as a result of a systematic starving of capital expenditure by the government, one has to ask: are they joking! The surplus was, in part, the result of the German government not spending allocated public investment funds because there are insufficient skilled public servants on tap to manage the projects. So the government has hacked into skilled employment first, then it finds that there are not enough qualified officials left to oversee essential projects. So capital formation contracts and the allocated funds go unspent. So, the Government records a surplus and cheers while bridges, roads, hospitals, IT infrastructure, transport infrastructure decays further. Modern day Germany – ridiculous....Bill Mitchell – billy blog
The German government celebrates its record surplus while infrastructure collapses
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia