but why bother.
Paul Krugman has an excellent article in the the New York Review of Books how-case-austerity-has-crumbled.
And then Noah Smith has a very thoughtful piece on why-do-people-support-austerity.
Both highly worth reading.
As for something different Steve Kates shows he is mad again.
Just to help out Steve's therapist:
- Getting the budget back into balance when the economy is quite healthy is a Keynesian notion and was sold by Treasury as such.
- Growth started in Australia well before there was a change of Government
- Growth slowed a tad after the first budget but then went back to where it was going after that.
- Angel Merkel's prescription has really worked in Europe hasn't it!!
Finally perhaps Katesy can tell us why only one case of austerity succeeded in Ireland and why two failed dismally