Carolina QuotesTaxes are not all bad. ...[T]axes are used for infrastructure investments, for schooling, for basic research, and to bail out markets when they go haywire.
John Komlos Connected to the Carolinas
Source
No citation is recorded for this quotation.
- work
- A Progressive View on the Need for a Paradigm Shift in Economics (Dec 2020)
- year
- 2020
no citation recorded
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“Taxes are not all bad. ...[T]axes are used for infrastructur…” John Komlos. Carolina Quotes, record CQ-542B918965. https://carolinaquotes.com/quote/542b918965
More from John Komlos
[T]eachers of economics should admit... that while markets do well in some circumstances they only do so within an appropriate institutional framework and... in others... [they] often tip the stream of benefits toward a few insiders.
Here is the Lehman Brothers, 2008... the assets of the Federal Reserve is under $1 trillion... and within weeks you have more than a doubling of the assets of the Federal Reserve, and then comes quantitative easing 2 and... 3 and by that time you're at $4 1/2 trillion... and then... comes the Covid crisis and we're up to $7 trillion. Now... that kind of a Capitalism is unsustainable. ...[N]o wonder that there is asset inflation as a consequence... and the stock market went through the roof.
Path dependence means that many processes are non-reversible... Poor people who go to poor schools... can't get into college and their whole life course is messed up...