Power of Story
Send a Tweet        
- Advertisement -

Share on Google Plus Share on Twitter 1 Share on Facebook 1 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend (2 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   1 comment
OpEdNews Op Eds

New York Times Supports Austerity Harshness

By       Message Stephen Lendman     Permalink
      (Page 4 of 7 pages) Become a premium member to see this article and all articles as one long page.
Related Topic(s): ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It

opednews.com

Author 194
Become a Fan
  (191 fans)
- Advertisement -

She's a longstanding hardline neoliberal insider. She's well rewarded for inflicting pain. She calls Latvia a success story. Its government sacked a third of its civil servants.

- Advertisement -

Wages were severely slashed. Benefits largely disappeared. Economic deprivation left vast numbers "severely materially deprived."

Fo ordinary people, crisis conditions persist. Anyone out of work on earning subsistence or sub-poverty pay understands what's going on better than talking-head economists.

- Advertisement -

Many people left and won't return. They include some of Latvia's best and brightest. Why endure IMF harshness. 

Riga-based Stockholm School of Economics Professor Morten Hansen said Latvia's unusually open economy enabled relentless wage and benefit squeezing.

"You can only do this in a country that is willing to take serious pain for some time and has a dramatic flexibility in the labor market," he said.

In other words, it's only possible where workers have no rights, those most vocal and angry leave, and others know resistance faces stiff crackdowns. It's also easier perhaps in tiny countries. Larger ones are harder to control.

- Advertisement -

Hansen added that "The lesson of what Latvia has done is that there is no lesson."

Next Page  1  |  2  |  3  |  4  |  5  |  6  |  7

 

- Advertisement -

View Ratings | Rate It

I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon



Go To Commenting
/* The Petition Site */
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Related Topic(s): ; ; , Add Tags
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert