William Thomson (@williameconomist.bsky.social)

Assumptions about government finances are stymying the climate response Assuming that governments are financially constrained—rather than resource-constrained—stymies the climate response. Given the urgency with which states must mobilise to mitigate and adapt to the ecological crisis, we must…

loading . . .

Assumptions about government finances are stymying the climate response Assuming that governments are financially constrained—rather than resource-constrained—stymies the climate response. Given the urgency with which states must mobilise to mitigate and adapt to the ecological crisis, we must develop and share a better understanding of government finances if we are to secure a prosperous future. Economist Stephanie Kelton uses the phrase ‘learned helplessness’ to describe the self-imposed, ideological constraints that governments that issue and tax in their currency, have minimal foreign currency debt, and operate a floating exchange rate, place on their spending. https://scotonomics.org/assumptions-about-government-finances-stymies-the-climate-response/