Sign in to confirm you’re not a bot
This helps protect our community. Learn more

'The Debt Delusion: How Government Debt Myths Control the Economy' by John Weeks (2020) Explained!

The Left Library
2.78K subscribers
<__slot-el>
<__slot-el>
127 views 1 month ago UNITED KINGDOM
The Debt Delusion: How Government Debt Myths Control the Economy 📢 Governments are running out of money! 📢 Debt is spiraling out of control! 📢 We must tighten our belts like a responsible household! We’ve all heard these phrases before—repeated endlessly by politicians, economists, and mainstream media. But what if these claims were completely false? In this video, we break down John Weeks’ The Debt Delusion and expose how debt myths are used as political tools to justify austerity, privatization, and attacks on public spending. We explain: ✅ Why the "government as a household" comparison is completely wrong ✅ How government debt really works and why most countries will never go bankrupt ✅ The austerity lie—how budget cuts harm the economy instead of fixing it ✅ Why debt is not a burden but an investment in the future ✅ How inflation myths are weaponized to serve corporate interests ✅ The alternative economic framework that could transfor …...more
...more
'The Debt Delusion: How Government Debt Myths Control the Economy' by John Weeks (2020) Explained!
15Likes
127Views
Mar 12025
The Debt Delusion: How Government Debt Myths Control the Economy 📢 Governments are running out of money! 📢 Debt is spiraling out of control! 📢 We must tighten our belts like a responsible household! We’ve all heard these phrases before—repeated endlessly by politicians, economists, and mainstream media. But what if these claims were completely false? In this video, we break down John Weeks’ The Debt Delusion and expose how debt myths are used as political tools to justify austerity, privatization, and attacks on public spending. We explain: ✅ Why the "government as a household" comparison is completely wrong ✅ How government debt really works and why most countries will never go bankrupt ✅ The austerity lie—how budget cuts harm the economy instead of fixing it ✅ Why debt is not a burden but an investment in the future ✅ How inflation myths are weaponized to serve corporate interests ✅ The alternative economic framework that could transform public policy If you’ve ever been told that your government "can't afford" healthcare, education, or social programs, this video is for you. The real question isn’t about debt—it’s about power, class, and who controls economic decisions. 🔔 Subscribe to The Left Library for simplified political theory, Marxist analysis, and deep dives into global capitalism! 📚 Recommended Reading: 📖 The Debt Delusion: Living Within Our Means and Other Fallacies – John Weeks 📖 The Deficit Myth – Stephanie Kelton 📖 Capitalism and Freedom – Milton Friedman (to understand neoliberal ideology) 💬 What do you think? Have you encountered these debt myths before? How do they affect policy in your country? Let us know in the comments! #GovernmentDebt #DebtCrisis #Austerity #EconomicMyths #PoliticalEconomy #theleftlibrary #marxisttheory #marxism #communism

Follow along using the transcript.

The Left Library

2.78K subscribers