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How to fix the economy (lemmy.world)

submitted 1 month ago by The_Picard_Maneuver@lemmy.world to c/curatedtumblr@sh.itjust.works

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[–] rockSlayer@lemmy.world 3 points 1 month ago (1 children)

You kinda just explained modern monetary theory. The US, UK, Canada, and a few other countries don't get money from taxes, they owe debt to themselves and earn it back through the next printing. There is a budgetary limit though, which is the amount of labor and resources available to the government

[–] daw@feddit.org 1 points 1 month ago

Taxation is necessary to counter overaccumulation