by So, mainstream economists were all for more efficiency, eg, getting the trains running on time, but it put millions out of work and so the country become inefficient instead.With more unemployed, the government collects less taxes which means it needs to increase taxes on everyone else.More social programs are needed too, plus police & prisons when many of the destitute turn to drugs and crime. And more healthcare needed as poverty increases illness and stress.Is there a better way?Bill Mitchell - The Job Guarantee. MMT Episode 6 [embedded content]
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With more unemployed, the government collects less taxes which means it needs to increase taxes on everyone else.
More social programs are needed too, plus police & prisons when many of the destitute turn to drugs and crime. And more healthcare needed as poverty increases illness and stress.
Is there a better way?
Bill Mitchell - The Job Guarantee. MMT Episode 6