Talk:Fiscal responsibility

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This article seems to ignore the crushing effects austerity has on the poor and working class. That is the reason why "detractors of fiscal responsibility" oppose it so much, because the fallout almost invariably falls on the poor, and not on the wealthy. Vee (talk) 19:02, 12 November 2022 (UTC)

Fringe theories[edit]

Some fringe economic schools, like Post-Keynesian economics, and in particular Modern Monetary Theory, argue forcefully against notion of fiscal responsibility that is used to motivate austerity programmes, arguing that sovereign governments are not analogous to households, and the economically "right" level of government deficit or surplus entirely depends on the state of the economy at the time (e.g. the level of unemployment). These points have been widely rejected by basically every mainstream economists nonetheless.

This doesn't explain how the Post-Keynesians are wrong. It's an argument from authority. Surely the wiki can do better than that. Vee (talk) 19:22, 12 November 2022 (UTC)