Season 1 · Episode 318
How much money is too much?
The UK government is spending like crazy. Are they going too far?
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
September 26, 202243m 12s
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Show Notes
Last week Kwasi Kwarteng, the new UK Chancellor, announced a cut in taxes at the same time that the government was stepping in to subsidise rising energy costs for homes and businesses. The cost of all this dwarfs the money spent on the furlough scheme. That means there’s a heap of government money being pushed into the public sector. Conventional economists, of the Friedman mould, would argue that we’re already seeing inflation driven by too much money, so what abut this next blast of government spending? Could it make inflation worse? And what about the repercussions on income disparity – from the budget and its unforeseen consequences. Hopefully someone in the Treasury is listening.
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