Back in 2010, the British PM began slashing the country’s budget on the promise that temporary cuts were necessary to reduce the deficit and right the economy. Another recession soon followed.
At the time, Cameron said the cuts would be temporary, but Monday he announced, “We need to do more with less. Not just now, but permanently.
Cameron said the government could provide better services with less money. Whether or not that’s true—and common sense has a say in the matter—it’s a diversion from the inevitable question of whether or not he was lying—as some predicted —when he said cuts would be temporary.
Britain got the austerity craze rolling in Europe and Germany has continued to push the idea all around the continent, despite clear evidence that it doesn’t work. As William Pfaff noted, “Keynesianism was murdered in the U.S.A. by a conspiracy called the Washington Consensus.”
John Maynard Keynes was of course the economist who figured out exactly how to deal with the sort of crisis we’re in—by spending more, not less. Pro-business neoliberals and conservatives the world over have worked very hard to make sure Keynes is ignored.Truthdig
David Cameron’s Surprise: Permanent Austerity
Peter Z. Scheer
Neoliberal ideology trumps economics, common sense, and decency. But Britain has always been a class-ridden society. What to expect? Now TPTB are doing their best to cement the neoliberal order in place with a police state.
2 comments:
The final part of the plan to funnel all the remaining remnants of public wealth to the top. Britain better have a really good police state, because it's going to explode. I wish I could short London real estate right now.
How else could a government-backed counterfeiting cartel for the benefit of the banks and so-called creditworthy proceed?
Ethics is extremely practical since it precludes legitimate grievances. The UK should wise up but being post-Christian, that's not likely short of a genuine revival.
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