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Scotonomics — Why the UK Government’s fiscal deficit is our surplus

Summary:
One of the founding concepts of Modern Monetary Theory is sectoral balances. And its power lies in its simplicity. Every economy can be broken down into three sectors: The government sector, the private sector (which includes me and you) and the foreign sector. Assuming a balanced budget, then government spending increases our net-wealth. A government deficit is our surplus.The National (Scotland)Scotonomics: Why the UK Government's fiscal deficit is our surplus

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One of the founding concepts of Modern Monetary Theory is sectoral balances. And its power lies in its simplicity. Every economy can be broken down into three sectors: The government sector, the private sector (which includes me and you) and the foreign sector. Assuming a balanced budget, then government spending increases our net-wealth. A government deficit is our surplus.
The National (Scotland)
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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