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February 3, 2013

No austerity anywhere in the world has restored a national economy

By B. Ross Ashley

Paul Krugman's recent column looks at the romance between the "austerians" -- the promoters of austerity for economically troubled nations -- and the need to inflict pain to get economic gain. His bottom line -- no country that has tried austerity has seen a major economic benefit. My bottom line -- add "to its people" to the end of Krugman's bottom line and you've got it exactly. There is an obvious economic benefit, but only for a few.

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Paul Krugman's recent column looks at the romance between the "austerians" -- the promoters of austerity for economically troubled nations -- and the need to inflict pain to get economic gain. His bottom line -- no country that has tried austerity has seen a major economic benefit. My bottom line -- add "to its people" to the end of Krugman's bottom line and you've got it exactly. There is an obvious economic benefit, but only for a few.



Submitters Bio:

Born in the USA, living in Canada since 1968, I'm a Vietnam war resister, a revolutionary democratic socialist partisan of the Fourth International reproclaimed in 1993, a member of Canada's New Democratic Party, on the executive committee of the St. Paul's NDP constituency association; a retired hospital worker, a retired member of Local 1.on of the Service Employees International Union and of the SMART reform caucus of SEIU. I sing bass-baritone in Common thread Community Chorus of Toronto, play Appalachian dulcimer and fool around with an ocarina, and knit socks.

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