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Bwee posted:Can someone please explain the pro-austerity argument, I understand that it's a "rich get richer" thing but they can't sell it like that I think for most supporters it's the (erroneous) generalization from personal finances to society-wide finances. If you, personally, are in debt, it makes sense to try to spend less--particularly on things you don't really need--and to save more. The strategy could hold on a society-wide level in some situations. A country with a debt that grows in good times and bad might be spending beyond its means and benefit from some austerity. But even in those cases, an austerity program during an economic downturn will only lengthen the downturn and make both the economic and financial situation worse.
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Jul 16, 2015 21:23
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| # ¿ May 9, 2024 04:52 |
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