Opening Word document…
Hicks says “by means of both government spending and taxing.” Grammatically, “both” can make the sentence “by means of both government spending and [also by means of] taxing.”
OUP 18 – Oxford University Press, 5/21/2018, "Both," https://www.encyclopedia.com/literature-and-arts/language-linguistics-and-literary-terms/english-vocabulary-d/both#both
adv. used before the first of two alternatives to emphasize that the statement being made applies to each (the other alternative being introduced by “and”): they all loved to play, both the boys and the girls.
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