The government is stuck in the fallacy of debt and deficit while ignoring the climate crisis | Greg Jericho

Do we really want to say in a decade’s time that we couldn’t spend money on lowering emissions because we were worried about interest rates?Despite a year in which there was a massive increase in government debt that had no discernible impact on interest rates or inflation, our politics remains stuck in the fallacy of debt and deficit, even in the face of the great crisis of climate change.One of economist John Maynard Keynes’ most repeated aphorisms is “when the facts change, I change my mind. What do you do, sir?” There is no evidence he ever said such a thing, which is just as well because while many utter the line, few follow through. Related: Australia's climate policy is a mix of delusion and denial. We need to get real | Greg Jericho Continue reading...