Since when does government have a money tree? by Michael R. Strain. [US context, but applicable everywhere] “Someone, at some point, needs to pay for government spending…Don’t believe the assurances that higher taxes and low-interest debt servicing will contain the costs…The costs of financing government spending should always be front and center. When they aren’t, cost-benefit tests simply become benefit tests.”
The left is winning the economic battle of ideas: by Chris Giles (FT). “The model of pre-coronavirus capitalism, with high levels of inequality, is losing popular support, suggesting the need for a post-Covid world with more support for the vulnerable and higher taxes, especially on extreme levels of income, wealth and profits. But there is still an important trade-off between equity and efficiency. Take redistribution too far and no one is satisfied.”
