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Government Deficit Fueling Growth or Inflation?

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Government Deficit Fueling Growth or Inflation?

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Government Deficit Fueling Growth or Inflation?
Steve Keen
Steve Keen (born 28 March 1953) is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. The major influences on Keen's thinking about economics include John Maynard Keynes, Karl Marx, Hyman Minsky, Piero Sraffa, Augusto Graziani, Joseph Alois Schumpeter, Thorstein Veblen, and François Quesnay.

2 comments

  1. So when Chalmers (Australian treasurer) said that we had a trillion dollar debt that we have to pay down and wants to get a goverment surplus, he means he will cut spending in the private sector making all of us poorer.

    When the government talks about national debt, is that money that it owes to itself?

    • yes paying down the debt will in general make everybody poorer.

      the national debt is just money they created that they have not taxed back, so we use it as savings for a rainy day or to spend on things we want.

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