Government Spending Doesn't Waste Money—It Creates It скачать в хорошем качестве

Government Spending Doesn't Waste Money—It Creates It

People are often told that only the private sector creates wealth and that government simply wastes taxpayers’ money. That claim is everywhere in modern political debate. It underpins austerity. It justifies privatisation. And it shapes how people think about the economy. But it is wrong. In this video, I explain what wealth really is and how it is actually created. Wealth is not just private profit. It includes infrastructure, education, health, security, and social stability. Historically, public enterprise built much of modern Britain. Local government created the systems that allowed private enterprise to function: sewers, electricity networks, public transport, housing, and water systems. I also explain the money myth that underpins many of these arguments. In a modern monetary economy, government spending creates money first, and taxation later helps manage inflation. Public spending can therefore increase national wealth rather than destroy it. The real issue is not public versus private. The real issue is whether economic activity meets social need and maintains the capital on which our society depends. If we want a better economy, we need to rebuild public enterprise and reject the myth that only private companies create wealth. Take a look at our poll below:    • Запись   00:00 — Who really creates wealth in the UK economy? 00:40 — The myth that only the private sector creates wealth 01:20 — False assumptions about taxpayers, markets and government 02:05 — What wealth actually is: goods, services and social stability 02:50 — Why public services are already counted as economic output 03:30 — How wealth is really created: organising labour and resources 04:10 — Public enterprise and the building of modern Britain 05:00 — How public investment enabled private capitalism 05:40 — The money myth: government spending and sectoral balances 06:25 — Why markets are not always efficient 07:00 — Privatisation failures: water, energy, rail and outsourcing 07:35 — The real question: does economic activity meet social needs? 08:05 — Rebuilding public enterprise and a politics of care TRANSCRIPT A transcript for this video is available at: https://www.taxresearch.org.uk IF YOU WANT TO WRITE TO YOUR MP ABOUT ISSUES IN THIS VIDEO If you want to write a letter to your MP on the issues raised in this blog post, there is a ChatGPT prompt to assist you in doing so, with full instructions, here. https://www.taxresearch.org.uk/Blog/2... HOW TO SUPPORT US Please consider donating: https://ko-fi.com/taxresearch ABOUT RICHARD MURPHY Richard Murphy is Emeritus Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best-known book is ‘The Joy of Tax’. This video was edited by Thomas Murphy. RICHARD MURPHY ON BLUESKY: https://bsky.app/profile/richardjmurp... OR ON MY BLOG: http://www.taxresearch.org.uk/Blog/ HIT SUBSCRIBE & GET NOTIFICATIONS Subscribe and get notified of new videos released. INTRODUCTION:    • Welcome to my channel - Richard J Murphy -...   PLAYLISTS: The Wealth Series    • The Wealth Series   Ecenomics    • Ecenomics   Britain    • Britain   Tax    • Tax   MMT    • MMT   Money    • Money   Climate Change    • Climate Change   USA    • USA   Labour    • Labour   The Trump Administration    • The Trump Administration   #richardmurphy #richardjmurphy #economy #economics #accountancy #accounting #tax #uktax #ukeconomy #greennewdeal #uk #money #economy #politics #government #tax #labour #health #life #WealthCreation #PublicVsPrivate #PoliticalEconomy #PublicInvestment #UKInfrastructure #SectoralBalances #ModernMonetaryTheory #MMT #PublicEnterprise #MunicipalSocialism #PrivatisationFailure #RentierEconomy #UKPolitics #EconomicMyths #PublicOwnership #LocalGovernment #PublicHousing #RegionalBanks #PoliticsOfCare #FundingTheFuture #richardmurphy