Not understanding money and government finances should be a disqualification from offering economic commentary
So, is it ignorance that is the disqualification? Or not agreeing with Ritchie?
So The Guardian is employing a commentator who does not understand that governments have to spend before they can tax, or the money to be taxed does not exist.
And who does not understand as a result that the spending pays for the tax.
Or that there is such a thing as a fiscal multiplier, and that it is very large in the case of the NHS, meaning that this spend may well recover more tax than it costs.
It’s a dangerous thing for Ritchie to say, certainly. Really, the fiscal multiplier on health care spending is such that it fully recovers he revenue? Sirsly?
And should be a disqualification from commenting on economics. But apparently isn’t.