Zero Danger from Federal Budget Deficits

Economist Randall Wray explained at this week’s Classcrits III: Rethinking Economics and Law workshop that an understanding of money debunks the myth of limits to government spending.   We CAN afford government jobs for all, health care for all, and anything else that’s good for progressive goals.  Charles Whalen passed along recent blog comments on the subject by James Galbraith, who explains the danger of long-term government deficits is not overstated, it is completely misstated:  The danger is zero.  For  Galbraith’s response to liberal critics, see http://tiny.cc/wotci

And more heterodox economics resources from Randy Wray:

And see the blog by Wray and colleagues at: New Economic Perspectives

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