A somewhat abridged version of this post first appeared in The Toronto Star here
Governments here and elsewhere are increasingly preoccupied with cutting even as evidence piles up of its harmful consequences on people and the economy. Austerity is not even delivering the balanced budgets its advocates promise. Even the IMF is now preaching balance rather than a single-minded focus on cuts. Yet, austerity’s adherents hold fast, deny the evidence or double down. Why is that?
Of course a few at the top benefit from austerity, at least in the short term, and though few, they exert considerable influence. And
. . . → Read More: Alex’s Blog: The Trouble With Austerity: Economics as Ideology