Imagine if every time the economy turned bad, the government invested in things that made people’s lives good?
In his new book ‘BIG: The Role of the State in the Modern Economy’, Richard Denniss, chief economist at the Australia Institute writes that taxes and government spending don’t ruin the economy, they reshape it. Government debt and spending are at record highs and, despite decades of warnings about its dangers, Australia’s economy is still growing strongly — not because of the private sector, but because the state intervened with massive public spending — and that’s a good thing.
Host: Ebony Bennett, Deputy Director at the Australia Institute // @ebony_bennett
Guest: Richard Denniss, Chief Economist The Australia Institute // @RDNS_TAI
Producer: Jennifer Macey //@jennifermacey
Theme Music: Pulse and Thrum; additional music by Blue Dot Sessions
Source- australiainstitute.org.au, February 16, 2022.
