Monday, March 26, 2012

why deficit macro in the first place

we have a trade gap to close before we can discuss
 a zero deficit
full employment
consolidated
    public sector budget

too much chitter implicitly  pre supposes we can't close this gap
and simply compounds the fuddlement over finite  fiscal "space "


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keynes expected a chronic excess of household savings
a "problem" easily solved if it ever exists
by tax policy

the leninist notion of a national surplus of capital
is a different matter all  to gether of course
that is the quintessence of corporate neo-imperialism