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.
Hmm….
Once again, Ritchie goes full Roderick Spode and proudly puts his totalitarianism on display. What a godawful toothache of a man he is.
“…governments have to spend before they can tax…”
Eh!? Wasn’t a problem when gold was a form of currency. Usually it’s the other way around. Tax and then spend. MMT thinking I guess.
TRUK accounts still not filed, giving rise to this lovely red mark:
https://ibb.co/S0j8LC7
For someone who gives anyone grief for not fulfilling their obligations to the state, he’s slacking recently.
Does anyone know where Spud stands today on the issue of money creation by private banks?
Tuppennce is going to be going round pubs and sewing people’s mouths closed, is he?
Not understanding money and government finances should be a disqualification from offering economic commentary
Is this a cry for help?
I’m sure he’d male being a ‘professor’ one of the criteria
Just more give me work stuff dressed up in no-platforming rhetoric
He really has the perfect lefty trifecta: total imbecile, total loony, total cunt.
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
I confess I find it hard to believe that he really believes this stuff. Maybe his whole career is just bizarre performance art?
Wow – that would be Godfrey Elfwick level trolling, although without the wit.
Diogenes
If you mean credit creation and expansion of money supply then he admits it happens and is prepared to accept a it happens only under licence from the Courageous State. If, however, you mean free banking, cryptocurrencies etc then he is rather like the apes on hearing Taylor speak: it is impossible for it to happen, can’t happen, doesn’t ever happen. To suggest it does is evidence of your stupidity. So we must destroy it when it happens… because it is impossible and can’t happen.
His accounts are out and they are a car crash!
https://www.t*xresearch.org.uk/Blog/2019/01/09/mea-culpa/
Filed late, full of basic spelling errors and income of <£8k. He's really in trouble when his City University post ends later this year.
I love his little whine about companies house picking up on his mistake.