The coalition government’s harsh austerity policy isn’t working, for the reasons the Liberal Democrats predicted in their 2010 manifesto. Even the IMF has advised the government to rethink its strategy and spend more. So why is the government refusing to change course?
As Paul Krugman explains, it is because George Osborne still believes in the confidence fairy. And the arguments for the existence of this fairy are utterly implausible.
What is the reason for Osborne’s stubborn persistence with this nonsense? Superstition, muddle or callousness? You decide.
No comments:
Post a Comment
Please note before commenting: Please read our comments policy (in the right-hand column of this blog). Comments that break this policy will not be accepted. In particular, we insist on everyone using their real, full name. If you have registered with Google using only your first name or a pseudonym, please put your full name at the end of your comment.
Oh, and we are not at home to Mr(s) Angry. Before you comment, read the post in full and any linked content, then pause, make a pot of tea, reflect, deliberate, make another pot of tea, then respond intelligently and courteously.