negative national saving. The production function is not operative. You know, to make labor and natural resource extraction more productive, they have to be given increased capital stock to work with. And the physical investment is equal to the change in the capital stock. So we've really dug a deep hole for ourselves. The problems are basically worse. Everywhere else, there's some minor differences, perhaps, but the budget deficits are just simply too large. And you say, well, we can have the Federal Reserve, Accelerator Central Banks accelerate monetary growth. However, additional monetary growth does not correct the problem of negative net national savings. You can increase the money supply, but that will just have an inflationary impact. There's no way to inflate our way out of the problem. Inflation just has a devastating impact on the modest and moderate income households, which then means that inflationary policies increase the income and wealth divides. We're seeing that big (22/41)
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