"Speech by Warren Mosler, author of Soft Currency Economics and The 7 Deadly Innocent Frauds of Economic Policy, explaining that capitalism is driven by spending and an hour of productivity lost by a person willing and able to work but unable to find a job is an hour of economic productivity that lost forever. It can never be recovered. he discusses the need to lower taxes and increase fiscal spending. Those that discuss the need for austerity have no real understanding of capitalism and how monetary policy operates..."
http://youtu.be/1AyT9zftNrE
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