Debate on Fiscal Rules
This is a news story, published by Home Page of Professor William Mitchell - www.billmitchell.org, that relates primarily to John Maynard Keynes news.
John Maynard Keynes news
For more John Maynard Keynes news, you can click here:
more John Maynard Keynes newsNews about United kingdom politics
For more United kingdom politics news, you can click here:
more United kingdom politics newsHome Page of Professor William Mitchell - www.billmitchell.org news
For more news from Home Page of Professor William Mitchell - www.billmitchell.org, you can click here:
more news from Home Page of Professor William Mitchell - www.billmitchell.orgAbout the Otherweb
Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best world news, business news, entertainment news, and much more. If you like this article about United kingdom politics, you might also like this article about
UK spending cuts. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest fiscal policy news, fiscal rule news, news about United kingdom politics, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!
fiscal rulesHome Page of Professor William Mitchell - www.billmitchell.org
•More economists are now criticising the British government’s fiscal rules – including those who influenced their design
76% Informative
Labour 's new Chancellor has inherited a set of fiscal rules inherited by the Labour government.
Some of the economists who wrote to the Financial Times criticising the rules are prominent in the design of the rules.
They claim that if Reeves continues to operate according to the fiscal rule it will cut public investment expenditure significantly and undermine prosperity.
John Maynard Keynes did not consider economic growth in his essentially short-term model of output and employment.
But there were economists working in the so-called Keynesian’ tradition that developed models of economic growth, which emphasised the importance of private saving and capital expenditure.
Harrod considered investment expenditure to be largely driven by expectations of future movements in aggregate expenditure (GDP).
William Mitchell says the rules on public spending are a recipe for disaster.
He argues that public spending must always be chasing the expansion of the demand-side (expenditure) and the growth in productive capacity can always be interrupted leading to instability usually a failure to achieve full employment.
Reeves is banking on strong private sector expenditure growth driving GDP ahead of expansion of public debt.
VR Score
78
Informative language
77
Neutral language
21
Article tone
informal
Language
English
Language complexity
63
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
detected
Time-value
medium-lived
External references
6
Source diversity
3
Affiliate links
no affiliate links