The iconic business magnate and philanthropist also dismissed “modern monetary theory” as “crazy talk”. The theory has been embraced by progressive US politicians such as Bernie Sanders and Ocasio-Cortez, and, curiously, President Donald Trump. It dictates that governments should not be concerned about deficits because they control the printing of their own currency. This leads to the conclusion that inflation should instead be managed with interest rates.Does Bill Gates implicitly advance the r > g argument without naming it?
Bill Gates seems to dissociate himself from "sound finance" as "expansionary austerity," not being concerned with a manageable level of debt or requiring budget balance. But apparently he still identifies with neoclassical monetarism in terms of managing r > g through monetary policy, or limiting spending/increasing taxes.
It seems to me from what I am aware Gates said is that he is suggesting the later.
CEO Magazine
Gates takes issue with Ocasio-Cortez's plans to raise income tax on the super-wealthy
Daniel Herborn
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