I don't know what Mr. Jackson's credentials are, but I do know he is wrong about that. Loans are repaid out of income. Income is always a multiple of the supply of money in the economy.

That does contribute to the imperative in every nation to maximize total output because, as well as maximizing employment, that maximizes total income (and the collection of taxes at existing rates). Currency, i.e., money created for central banks and central governments to use for their purposes, also directly contributes to the supply of money. Other public debt--in the form of bonds used to finance public goods--also contributes to increasing total output.

For the nothing it appears to be worth, I have developed a proposal for having demographics govern total output. I’m pretty sure I have previously shared it with you, Mr. Abela. I have stopped trying to understand why people who are interested in a better approach to the economy ignore it. The linked article puts my proposal in a historical perspective, with links to more about it.