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OwlFancier posted:In the UK you repeat that it's necessary a lot and promise to mostly make the cuts affect a smaller portion of the active voter base, regardless of its wider effects or how large that portion of the population is. UK austerity isn't like Greece austerity, mostly because UK never actually implemented austerity; we've contined to go deeper and deeper into debt, and, shockingly, whenever an election comes around or a tax cut is on the table we find more money, and when it comes to big cuts or privatization suddenly we've run up the national credit card. "Austerity" in the UK is just a codeword for ideologically driven mass privatization; it's Thatcherism with a mildly more current face. As I understand it, export economies just function differently then regular countries, debt functions completely differently (they get it written off much easier, for example) as does inflation. To put it simplier: like with world wars and pornography, Germany, Japan and to a lesser extent Italy are all hosed up and weird.
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Jul 16, 2015 22:26
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ColoradoCleric posted:Seems like there is several types of austerity going on here, the low taxes and low public spending in America, the privatization in the U.K., and the restructuring of Greece's debt. the privatisation in the uk isn't actually austerity under the conventional definition, it's just privatisation under a new coat of paint, one that was trendy during the financial crisis. america likewise won't touch austerity with a ten foot pole: every credible voice and every instance of it being tried demonstrate it doesn't function. Reagan wasn't practising austerity, thatcher wasn't practising austerity. they thought cutting was a good idea for purely ideological reasons, and bashed economic theory hard enough it bent into something that could sell (trickle down economics, mostly, the laffer curve, etc), sold it to their respective countries and achieved their ideological goals. they both spent like crazy, but on things their ideologies felt were justified, mostly massive military spending. similar is happening now. what's happening the Greece isn't like what's happening in the US and the UK because the latter two are functional economies being led by more or less intelligent people who simply have different goals as to what a nation should do and engage in lots of flavor of the month political theatre to get it. CoolCab fucked around with this message at 02:10 on Jul 18, 2015 |
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Jul 18, 2015 01:54
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