The land of Shenqi, Zhongyang.

"Your Majesty, this battle is very costly."

"However, because there are too many rewards for meritorious soldiers, although many spoils of war have been obtained, not much has fallen into the pockets of the government."

"Those captured Linhu people also have to spend a lot of money to support."

"What's more, the Huns who moved into the land of Shenqi can be rent-free for two years, and the government can't make ends meet at all!"

"Nowadays, the government has to pay many Xiongnu people to serve as conscripts, and at the same time have to pay back the money borrowed from merchants from various countries, and also pay for the huge consumption of new real estate."

"The land of Shenqi is already in debt and overwhelmed!"

Li Si was holding a thick stack of papers, his face was full of anxiety, and even his hair was a lot whiter.

The huge expenses in the land of Shenqi in the past six months have almost overwhelmed Li Si.

In half a year, the land of Shenqi flourished.

Whether it's roads, ditches, or real estate, it's all colorful.

Because the land of Shenqi owed a lot of money to merchants from various countries, they had to give them preferential policies, so that more and more merchants gathered in the land of Shenqi.

The improvement of the lives of the common people, coupled with the entry of big merchants from all over the world, has led to the flourishing of commerce in the land of Shenqi, and it has become a holy place in the hearts of merchants from all over the world.

It is a pity that the commercial tax revenue is far less than the huge consumption of the land of Shenqi.

Zhao Jia's generous performance certainly allowed the Huns who had regained their freedom to be content with the status quo and live comfortably in Zhao Land.

It's a pity that whenever Li Si looks at the huge expenditure of the treasury, he feels dizzy.

He knew very well how weak the prosperous land of Shenqi was, and he was even poorer than those big leaders of the Xiongnu tribes.

At least a few big leaders of the Xiongnu tribes not only relied on their military exploits to pay off their foreign debts, but also amassed a lot of money and slaves.

In Lisi's traditional concept, the government should have revenues far greater than expenditures, and the government treasury should have a large surplus, so that the country can be considered rich and strong.

But now, the land of Shenqi is very prosperous on the surface, but the government is poor.

Li Si is very worried that when the government cannot borrow money, although the regime will not collapse, it will greatly reduce the credibility of the government, and even make the people in the country complain.

Just because, if the government can't come up with the money, it can't continue to exchange its past promises.

Zhao Jia took the paperwork, flipped through it a few times, and said, "Isn't it just that you owe some foreign debts, as long as you can borrow money, there is nothing to worry about." ”

"You still want to continue to borrow money?"

When Li Si heard this, his expression was extremely exciting, and he even couldn't keep up with Zhao Jia's brain circuit.

Zhao Jia said as a matter of course: "The government is short of money, so it will either open source or throttle." ”

"Shenqi is in a period of rapid development, and if it starts to cut expenditure, it will not only make the previous plan a bubble, but also lead to a decrease in the credibility of the government and cause a series of social problems."

"In that case, then there is only open source."

"The so-called open source is to increase the money and food that the government can control, either to make money with its ability, or to continue to borrow from big businessmen from various countries."

"These are very simple questions!"

When Li Si heard this, he couldn't help but swallow his saliva and said, "However, the government already owes a lot of money, grain, and goods to the major merchants, how can they continue to lend money to the government?" ”

Zhao Jia was surprised: "Isn't it precisely because the government already owes a lot of money, grain, and goods to the major businessmen, that they will continue to lend money to the government?" ”

"If you don't borrow, how can you pay off the loan if it causes problems in the government's operations?"

"If you can't repay the loan, the big businessmen of all countries will lose all their money."

"Sir, will they continue to borrow?"

When Li Si heard this, he was a little dumbfounded, and suddenly felt that his worldview had been subverted.

He thought about it carefully, and found that he had no way to refute Zhao Jia's remarks.

It's a change of place.

If Li Si himself is a big businessman who is mercenary, after lending the incomparably huge materials to the land of Shenqi, he is absolutely unwilling to watch the government of the land of Shenqi fall before the other party pays off the debt.

In that case, Lees will lose all his money.

Zhao Jia looked at Li Si's stunned appearance and continued: "What's more, as a condition for borrowing from these big businessmen, the government has also issued many generous policies to big businessmen from various countries. ”

"The wine processing workshops, Tianxianglou, and even the export of paper and books in the land of Shenqi are all involved in it."

"Even if it is to continue to gain profits, these big businessmen will never sit idly by and watch the government fall into an embarrassing situation."

At the beginning, Zhao Jia borrowed money from big businessmen from all over the world, although with his prestige, he was able to borrow a lot of money, food, and materials.

However, because Zhao Jia needed too much money, food, and materials, even if he had a huge reputation, those big businessmen were quite hesitant and did not dare to risk going bankrupt and lend a huge amount of money to the land of Shenqi.

In order to stabilize the hearts of these big businessmen, and by the way, tie them to the interests of the land of Shenqi, Zhao Jia simply took out the long-coveted wine processing workshop, Tianxiang Building, as well as paper, books and other items as collateral.

Of course, Zhao Jia only pledged the sales share, not the transfer of technology.

These technologies are also the foundation of the flourishing of the land of Shenqi, which is tightly protected, and hundreds of spies are killed every year for this.

Whether it is wine, food, books, and paper, they are indispensable luxuries for the nobles of all countries, and there is a huge gap.

Rao is like this, Zhao Jia still deliberately limits the export share, in order to maintain the price advantage.

It can be expected that under this business model, businessmen who can get a fixed share of sales will definitely be able to make a lot of money.

Since it was profitable, the big businessmen of various countries were also tied to Zhao Jia's chariot.

They will never sit idly by and watch a big problem arise in the government where Zhao Jia lives.

Continue to borrow money from these big businessmen, although they will be a little dissatisfied in their hearts, but they will continue to support the land of Shenqi.

Li Si thought for a while, and finally shook his head and said: "Having said that, in the long run, businessmen will find that the money they earn is far less than the money they lend to the government, and this lending operation model will always collapse one day." ”

He said earnestly: "The heart of the land of Shenqi is developed by the king, Li Si naturally knows, but everything should be done according to his ability, step by step. ”

"The most important thing at the moment is to develop the land of Shenqi itself, use taxes to strengthen oneself, relying on foreign goods and tricks, it is not a long-term strategy."

Li Si's words are, to put it bluntly: if you take too many steps, it is easy to pull the egg, you should be leisurely, you have to rely on yourself, don't engage in crooked ways.

When Zhao Jia heard this, he shook his head with a smile.

Although Li Si has the talent of a prime minister, his vision is still limited by the times after all, and he doesn't know what Zhao Jia is doing at all.

Zhao Jia's current policy is deficit finance.

Although the order of deficit finance and fiscal deficit is different, the meaning of the two is very different.

The latter simply means that the state spends more than it receives, resulting in negative growth in government finances, also known as fiscal deficits.

Deficit finance, however, is a concept of economic development.

In 1929~1933, there was a world economic crisis, and the income of people in many countries was greatly reduced, and unemployment and economic malaise made it difficult for all countries.

In order to explain and relieve the crisis, deficit budgeting theories have emerged.

Among them, the theories of the British economist John Maynard Keynes and the American economist Hansen are the most representative.

They believe that fiscal balance is not the principle of a country's financial management, and the amount of debt is not a measure of a country's financial stability.

The capitalist economy has fallen into a long period of depression and crisis because of the lack of effective demand.

In order to promote employment and eliminate the crisis, the state should actively intervene in the economy, adopt the method of expanding state budget expenditures, organize public works, increase government investment, increase military orders, pay export subsidies, etc.

In the implementation of these policies, the state will inevitably run large deficits, but it can stimulate aggregate social demand, increase employment opportunities, and then increase national income, and alleviate or eliminate the economic crisis.

After the Second World War, many Western countries used this kind of policy, which allowed their economies to recover rapidly.

Although in the long run, this economic concept has great flaws and cannot fundamentally solve the problem, at least in the short term, it can greatly stimulate the country's domestic demand and make the economy flourish.

Zhao Jia knew that if Shenqi wanted to emulate capitalist expansion, it would have to allow its domestic economy to flourish and then become aggressive externally.

Unfortunately, the low income of the common people and the underdevelopment of commerce seriously restricted the expansion of capital.

In order to solve this problem, it has become the most effective solution to increase national income by paying for the government, and then use this as a breakthrough to stimulate domestic demand and promote the vigorous development of the economy in Shenqi.

Red finance is exactly the governance concept that Zhao Jia moved out.

Of course, it is by no means so easy to support the development of the entire Shenqi Land just by borrowing from major merchants.

This kind of thing can only be an emergency, but it cannot become a long-term solution.

As for how to make money, Zhao Jia has already thought about it.

The high housing prices in later generations, as well as the shantytown reform policies in various places, have made many young people take away their parents' life savings in order to buy a house.

Even so, the vast majority of families still have to borrow money from banks.

A house not only earns the savings of the elders in the first half of their lives, but also allows the young people to live in the shadow of paying off the mortgage for the rest of their lives.

It is no exaggeration to say that real estate businessmen have used a house to earn the income and savings of two generations of ordinary families, and through this non-violent means of exploitation, they have greatly promoted the development of local economies in a short period of time.

Zhao Jia can learn from this mode of governance.

Whether it is those Xiongnu leaders or soldiers who have made war exploits and obtained a lot of benefits, how the government rewards them with money, they can also be squeezed back without much effort.