"It does not fully capture the productive value of a railway, a stronger electricity grid, a healthier population, a skilled workforce or a research ecosystem. These capabilities may not appear on the public balance sheet the way a financial asset does"
marianamazzucato.substack.com/p/fiscal-rul...
marianamazzucato.substack.com
Fiscal Rules Should Serve Britain’s Future
Earlier this month, in his first major speech as the UK’s new Chancellor, John Healey stood in Coventry and reiterated his commitment to “fiscal discipline”. It is not hard to understand why: the UK f...