Austerity
Posted: Fri Oct 22, 2010 10:24 am
This should get the neo-cons fired up. What do y'all think of the austerity plans in Europe? Are they good, strict fiscal policy in a time that needs it, or is it a way for the wealthy to tip the scales more in their favour toward a less social, more free market system like the US has? Are the French just acting le-tired by not being retired at 60? Or should people protect the erosion of a system that arguably leads to an excellent lifestyle for the broadest economic swath of people?
My feelings run to the left. Toward protecting the social programs in the UK, France, Spain, Portugal, even Greece. It seems to me that much of the movement toward austerity is faddish and is resulting in the wealthy viewing this as an opportunity to trim down their taxes and eliminate services for people who can not afford the loss of such things. Is it no surprise that the austerity measured in the UK are being put through by a conservative government bent on protecting the interests of the wealthiest people? Furthermore, all of this fits in perfectly with Naomi Klein's view of historical economic policy. This is the so-called Shock Doctrine in which after military, environmental, or economic stress populations are most apt to agree to radical change in their economic systems because they are confused by the chaos caused by the shock. These tactics have been employed for 5 decades, and most recently the bush administration actually deigned to put "shock" in the name of the mission. Europe is rioting over this, or at least segments of Europe's population are. This is an interesting time because the US and Europe are actually moving toward each other economically -- we by adding social services despite very low tax revenues and the great costs of doing so and Europe by eroding a more extensive system. In the US people are mad, but no one is in the streets. People just complain over AM radio, twitter, and facebook, and maybe by electing tea party candidates in a few weeks.
Who else has thought about this stuff? What do you think?
My feelings run to the left. Toward protecting the social programs in the UK, France, Spain, Portugal, even Greece. It seems to me that much of the movement toward austerity is faddish and is resulting in the wealthy viewing this as an opportunity to trim down their taxes and eliminate services for people who can not afford the loss of such things. Is it no surprise that the austerity measured in the UK are being put through by a conservative government bent on protecting the interests of the wealthiest people? Furthermore, all of this fits in perfectly with Naomi Klein's view of historical economic policy. This is the so-called Shock Doctrine in which after military, environmental, or economic stress populations are most apt to agree to radical change in their economic systems because they are confused by the chaos caused by the shock. These tactics have been employed for 5 decades, and most recently the bush administration actually deigned to put "shock" in the name of the mission. Europe is rioting over this, or at least segments of Europe's population are. This is an interesting time because the US and Europe are actually moving toward each other economically -- we by adding social services despite very low tax revenues and the great costs of doing so and Europe by eroding a more extensive system. In the US people are mad, but no one is in the streets. People just complain over AM radio, twitter, and facebook, and maybe by electing tea party candidates in a few weeks.
Who else has thought about this stuff? What do you think?