{"id":68317,"date":"2023-03-07T07:59:19","date_gmt":"2023-03-07T07:59:19","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=68317"},"modified":"2023-03-07T08:31:53","modified_gmt":"2023-03-07T08:31:53","slug":"the-whole-notion-that-you-run-government-like-you-run-a-household-is-a-complete-myth","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/03\/07\/the-whole-notion-that-you-run-government-like-you-run-a-household-is-a-complete-myth\/","title":{"rendered":"The whole notion that you run government like you run a household is a complete myth"},"content":{"rendered":"<p>Prof Mariana Mazzucato telling it like it is, and effectively summarising modern monetary theory whilst doing so, on Newsnight last night:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\u201cThis whole notion that you run government like you run a household\u2026is a complete myth\u201d<\/p>\n<p>Economist Prof Mariana Mazzucato tells <a href=\"https:\/\/twitter.com\/hashtag\/Newsnight?src=hash&amp;ref_src=twsrc%5Etfw\">#Newsnight<\/a> Government\u2019s should address social issues through tax<a href=\"https:\/\/t.co\/P0zxS1DNGF\">https:\/\/t.co\/P0zxS1DNGF<\/a> <a href=\"https:\/\/t.co\/I6NLtXgDqN\">pic.twitter.com\/I6NLtXgDqN<\/a><\/p>\n<p>&mdash; BBC Newsnight (@BBCNewsnight) <a href=\"https:\/\/twitter.com\/BBCNewsnight\/status\/1632878277407698944?ref_src=twsrc%5Etfw\">March 6, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Such opportunities come rarely. She grabbed it. If only some politicians took note we could transform people\u2019s well-being.<\/p>\n<p>So, a poll to encourage debate. You are allowed two votes:<\/p>\n<div id=\"polls-7\" class=\"wp-polls\">\n\t\t<p style=\"text-align: center;\"><strong>Is Mariana Mazzucato right?<\/strong><\/p><div id=\"polls-7-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>Is the national economy nothing like that of a household? <small>(51%, 485 Votes)<\/small><div class=\"pollbar\" style=\"width: 51%;\" title=\"Is the national economy nothing like that of a household? (51% | 485 Votes)\"><\/div><\/li>\n\t\t<li>Is the difference between the national and household economy the state's ability to create money? <small>(47%, 450 Votes)<\/small><div class=\"pollbar\" style=\"width: 47%;\" title=\"Is the difference between the national and household economy the state&#039;s ability to create money? (47% | 450 Votes)\"><\/div><\/li>\n\t\t<li>The state is merely the custodian of taxpayers' money and must balance its books as a result? <small>(1%, 13 Votes)<\/small><div class=\"pollbar\" style=\"width: 1%;\" title=\"The state is merely the custodian of taxpayers&#039; money and must balance its books as a result? (1% | 13 Votes)\"><\/div><\/li>\n\t\t<li>Should the national economy be run like that of a household? <small>(0%, 3 Votes)<\/small><div class=\"pollbar\" style=\"width: 0%;\" title=\"Should the national economy be run like that of a household? (0% | 3 Votes)\"><\/div><\/li>\n\t\t<\/ul><p style=\"text-align: center;\">Total Voters: <strong>582<\/strong><\/p><\/div>\n\t\t<input type=\"hidden\" id=\"poll_7_nonce\" name=\"wp-polls-nonce\" value=\"1eb2425d92\" \/>\n<\/div>\n<div id=\"polls-7-loading\" class=\"wp-polls-loading\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/plugins\/wp-polls\/images\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading ...\" title=\"Loading ...\" class=\"wp-polls-image\" \/>&nbsp;Loading ...<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Prof Mariana Mazzucato telling it like it is, and effectively summarising modern monetary theory whilst doing so, on Newsnight last night: \u201cThis whole notion that<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/03\/07\/the-whole-notion-that-you-run-government-like-you-run-a-household-is-a-complete-myth\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,174],"tags":[],"class_list":["post-68317","post","type-post","status-publish","format-standard","hentry","category-economics","category-modern-monetary-theory"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/68317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=68317"}],"version-history":[{"count":5,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/68317\/revisions"}],"predecessor-version":[{"id":68322,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/68317\/revisions\/68322"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=68317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=68317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=68317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}