Austerity or not?

[skirtingtoday]

Just read this interesting article about austerity where Britain is concerned. The same situation existed in the US until at the very least analytical journalism become more predominant and governments actually started listening to what real economists think.

Indeed, "...very few British academics (as opposed to economists employed by the financial sector) accept the proposition that austerity has been vindicated"

http://mobile.nytimes.com/2015/03/23/op ... .html?_r=1

[crfriend]

"Austerity" benefits only one class of citizen -- the Elites -- and hurts everybody else. However, the Elites call all the shots so austerity it is. Welcome to the new Dark Age.

The end-game in this is the utter destruction of the middle class by virtue of all their money being squeezed back into the Elite class. It'll be complete by the time this decade is out.

[Caultron]

Just read this interesting article about austerity where Britain is concerned. The same situation existed in the US until at the very least analytical journalism become more predominant and governments actually started listening to what real economists think.

Indeed, "...very few British academics (as opposed to economists employed by the financial sector) accept the proposition that austerity has been vindicated"

Austerity (cutbacks) may reduce deficits and debt, but it's hard to see how spending less makes an economy grow.

As to the US government listening to what real economists think, no, that's not happening. These days, it only listens to what large wealthy campaign contributors think.