The GER political system is an #Oligarchy with Parliament/Treasury/CB/BigBusiness as integral parts. The #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit i.e. private #FinancialWealth grows with #PublicDebt = basic distributional fact of the #MarketEconomy. pic.twitter.com/uA7xuYp3eO— E.K-H (@AXECorg) August 7, 2023
August 7, 2023
Occasional Xs: Time for economists to get the relationship between deficit, debt, and distribution right (II)
For details of the big picture see cross-references Profit/Distribution.