In his new podcast series titled, The Future of Financing Freedom, Dr. David Axelrod, Instructional Specialist in the Department of Economics at the Feliciano School of Business at Montclair State University, considers the relationships between the concepts of finance, future and freedom in addition to presenting policy proposals based on these insights.
This episode considers the meaning and implications of negative interest rates, the pros and cons of wealth taxes, and their relationship to wealth inequality. Since negative rates imply paying someone to return the value of the loan in the future, it has similarities with paying a wealth tax to provide governmental services (such as the military and judicial system) that protect one's wealth. Wealth concentration has a dual edge: it permits greater investment in research, development and invention, while making it more difficult for most households to invest in themselves (through education and health care).