Thursday, October 28, 2021

Government spending, profits & capitalism — Chris Dillow

 MMT-compliant. Worth a read.

Stumbling and Mumbling
Government spending, profits & capitalism
Chris Dillow, Investors Chronicle

1 comment:

Jerry Brown said...

I suppose the Tory party are sort of like our more traditional center right Republicans? They used to pretty much represent the interests of business owners pretty openly. Didn't really mind government spending when directed at areas where they will make money and it was unlikely to benefit workers all that much? Like military spending. I don't know. I have a hard time trying to figure out what various Republicans in this country seem to want nowadays, let alone a political party in some other country.

I am always suspicious when economists start to talk about things as 'emerging' rather than being a predictable outcome of intent. Chris Dillow posits that an attitude is emerging among Tories because of events where I might think that was pretty much always something they wanted. But I'm sure Dillow knows far more about British politics than I do.