Probably the biggest challenge to understanding how the economics of governments really works comes from the need to understand that governments of the sort we have in the UK are not funded by taxes. They are funded by central bank money creation. Tax exists to control inflation (and tackle inequality, market failure and other things). Until it's appreciated that spending creates taxation and not that tax funds spending, nothing else about how the government works makes sense.
ABOUT RICHARD MURPHY
Richard Murphy is 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’.
DONATE TO KEEP THIS CHANNEL ADVERT FREE
[ Ссылка ]
RICHARD MURPHY ON TWITTER
Follow Richard on his Twitter: www.twitter.com/RichardJMurphy or on his blog: [ Ссылка ]
HIT SUBSCRIBE & GET NOTIFICATIONS
Subscribe and get notified of new videos released.
INTRODUCTION: [ Ссылка ]
PLAYLISTS:
Accountancy: [ Ссылка ]
Economics: [ Ссылка ]
Tax: [ Ссылка ]
Taxing Wealth Report: [ Ссылка ]
Green New Deal: [ Ссылка ]
Money: [ Ссылка ]
Questions from subscribers: [ Ссылка ]
Miscellaneous: [ Ссылка ]
#richardmurphy #richardjmurphy #economy #economics #accountancy #accounting #tax #uktax #ukeconomy #greennewdeal
