This argument from Blanchard's research: As long as the growth rate --- presumably a rate larger than simple population growth -- exceeds debt interest rate, borrowing (for a large country with its own currency) is a low cost proposition.
My interest is primarily in how socialists might manage the capitalist sectors of a mixed economy to maintain both sustainable growth, productivity and higher standards of living. I know some would prefer to dismiss 'capitalism' by decree. But commodities -- and capitalism -- will not be denied as long as there are scarce values produced for exchange.
The difficulties in measuring labor productivity in services and intangibles may make the 'GDP' numbers too error-ridden to rely upon. But, clearly, GR
Blanchard on public debt and interest rates; also: thanks, MMTers!
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