Thought for the age

Governments have no resources. They only have spending power insofar as they can arrogate to themselves a percentage of private production; meaning government spending is a consequence of economic growth rather than an instigator. The same applies to “money.” It’s not wealth; rather it’s an agreement about value that enables the movement of actual wealth. In short, abundantly circulated money is a consequence of production as opposed to an instigator.

Forbes article via RealClearMarkets

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