Not Bad Policy, But Class Policy
Holes in the Keynesian Against G20 Austerity Plan
Date Written: 23/07/2010
Year Published: 2010
Resource Type: Article
Cx Number: CX11992
Liberal critics of the vicious austerity policies passionately argue against such policies as bad, misguided, or unwise as if the governments that make such policies do not know what they are doing. Accordingly, these critics offer all kinds of elegant Keynesian arguments in favor of stimulus deficit spending that could lead to improved economic conditions, increased tax revenues, and decreased debt and deficit. What these critics tend to overlook, however, is the fact that the governments that impose austerity policies are serving as bailiffs or debt-collecting agencies on behalf of their corporate/financial masters.