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Wer mir nahe ist, steht mitten im Feuer - Band 1 (Der große Plan) (German Edition)

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Enemies of big government have coalesced with European social democrats and tax-cutting US Republicans, to create a cartel-based, hierarchical, financialized global economic system. ATHENS — No policy is as self-defeating during recessionary times as the pursuit of a budget surplus for the purpose of containing public debt — austerity, for short. The economic case against austerity is cut and dried: An economic downturn, by definition, implies shrinking private-sector expenditure.

A government that cuts public spending in response to falling tax revenues inadvertently depresses national income which is the sum of private and public spending and, inevitably, its own revenues. It thus defeats the original purpose of cutting the deficit. Clearly, there must be another, non-economic, rationale for supporting austerity.

In fact, those favoring austerity are divided among three rather different tribes, each promoting it for its own reasons. To continue reading, please log in or register now. After entering your email, you'll have access to two free articles every month.

Israeli 'Nation-State' law a 'clear form of apartheid', says Barenboim | Middle East Eye

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