Re:UK austerity has inflicted 'great misery' on citizens, UN...
by emmelaich on Saturday November 17, 2018 @03:55PM
(#18477354)
> ... government is spending _even less_ into the economy.
Where do they get that money to spend?
Money spent by individuals and companies is usually better spent than that by the government. (given a law-abiding high trust society)
Money that passes through government is not magically imbued with some extra quality. More the opposite. Remember that story about it being cheaper to hire a taxi than go by train for two or passengers in Greece? That the Greek train system had more employees than passengers and lost a billion per year?
Of course I don't want to go overboard here; money spent wisely by the government on the public good can be more effectively (productively) than the individual or company.
Where do they get that money to spend?
Money spent by individuals and companies is usually better spent than that by the government. (given a law-abiding high trust society)
Money that passes through government is not magically imbued with some extra quality. More the opposite. Remember that story about it being cheaper to hire a taxi than go by train for two or passengers in Greece? That the Greek train system had more employees than passengers and lost a billion per year?
https://www.bbc.com/news/world-europe-16834815
Of course I don't want to go overboard here; money spent wisely by the government on the public good can be more effectively (productively) than the individual or company.