Emeritus Prof Christopher May on Nostr: Well, that's not quite the case... the state (as a sovereign body) can create money & ...

Well, that's not quite the case... the state (as a sovereign body) can create money & indeed often does.... so there is no fixed 'debt' to be paid off - state's are not like households & therefore the trade off between paying off debt & investing is a political choice not a necessity.... you'll recall 'quantitive easing' which was essentially the state creating money & then 'lending' it to itself before then lending it on.... would you like me to recommend some reading?