Tuesday, August 12, 2014
Economics Tuesday 5: On Austerity
Or the idea that austerity is a good economic policy to get us rapidly out of recessions. Or the idea that austerity policies can be used as a disguise to dismantle the welfare states all over the world. Or the idea that austerity policies are good for us because we are all sinners and we deserve to be punished for those sins.
This post has links to theories which try to explain how austerity policies would work. I recommend reading those. The experience for the reader is of "the-emperor's-new-clothes" type.