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The Solution to the Country's Debt and Deficit Problem
Baker, Dean http://www.counterpunch.org/2019/09/30/the-solution-to-the-countrys-debt-and-deficit-problem/
Publisher: CounterPunch
Date Written: 30/09/2019
Year Published: 2019
Resource Type: Article
For most people, the country's national debt and annual deficit are not major concerns. However, for a substantial portion of the policy types who make, write, and talk about economic and budget policy, debt and deficits are really big deals. And, the fact that our budget deficit and debt are both large by historic standards, and growing rapidly, is an especially big deal.
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Excerpt:
The basic logic of patents and copyrights is that they are an alternative mechanism to direct spending that the government uses to provide incentives for innovation and creative work. However, unlike direct spending, which adds to our deficit and debt, no one ever includes any measure of future patent and copyright rents in our deficit or debt figures. The value of these monopolies are effectively free money in the accounting of the deficit hawks.
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