"The truth is, however, that government spending does not so much create, as displace employment. Every pound spent by the Government must first be taken from the people, who cannot then spend it for themselves. If the money taken, is taken [back]through taxes, it exactly reduces the ability of the people to spend or invest it for themselves as they wish, or to save it for transfer, via the banking system, for others to spend or invest as they wish. If the money is borrowed, it again exactly reduces the amount of money that the people can borrow to spend or invest."Sean Gabb.
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