Expanding the economy

“All policy to expand the economy will be more successful the more successfully it provides income to those who need it most. Expenditure is then prompt and complete. Such policy also usefully reduces social tension. Although much effort has been devoted to shoowing the opposite, income is a remarkably useful antidote to poverty and its associated discomfort. But the policy that professional business spokesmen and the affluent in general most approve, the policy that is best for business confidence, will always be the policy that gives these more fortunate groups the most after-tax income.

– JK Galbraith (in National Times, 4/2/78)

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