Ask Prof Wolff
Ask Prof Wolff
Democracy at Work - Richard D. Wolff
Government Finance - The Truth Behind Borrowing
8 minutes Posted Apr 22, 2022 at 4:22 pm.
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Two Patrons of Economic Update ask: "Can you please explain the difference between the government borrowing money (from the corporations/rich/other countries) vs. printing money? What are the differences between government bonds for financing infrastructure projects or public goods, and borrowing money from corporations and billionaires for those same projects and services? What if bonds are bought by rich people and corporations to get the tax write offs?"