Some interesting stuff from the IEA

Prof Philip Booth gets to the truth about austerity in the UK and other EU countries.

Is it me, or was that line for Greece flat? Let’s take a closer look:

IEA Graph

Simon Gibbs

Simon is a London based IT contractor and the proprietor of Libertarian Home. Working with logic and cause-and-effect each day he was naturally attracted to nerdy libertarianism and later to the benevolent logic of Objectivism. Find him on Google+ 


  6 comments for “Some interesting stuff from the IEA

  1. Jun 4, 2012 at 10:15 am

    We all knew this to be the case. The Tories are in a hole now because they’ve managed to convince everyone that they have implemented austerity.

  2. Tim Carpenter
    Jun 4, 2012 at 10:22 am

    Increasing govt spending only puts money through one last set of domestic hands.

    Better we remove public spending from GDP figures, for this will then show how increasing public spending, far from promoting “growth”, actually diverts money away from the productive, voluntary sector.

    • Jun 5, 2012 at 12:11 pm

      Also on that point Government Debt should be compared to Government Turnover not GDP. As that gives a far clearer indication of our ability to service the debt.

  3. Paul Marks
    Jun 4, 2012 at 9:33 pm

    The worst of both worlds.

    The political heat for “slashing government spending”.

    Without the economic benefit of actually doing so.

    However, the public may (wrongly) believe that European governments are slashing government spending – but professional economists have no excuse for pretending they believe it.

    Paul Krugman and co are lying scum.

  4. Tim Carpenter
    Jun 6, 2012 at 12:01 am

    The Govt did not learn the lesson of “may as well be hung for a sheep as for a lamb”

  5. Jun 7, 2012 at 5:33 pm

    A former banker of my acquaintance, Frances Coppola, had some comments on that chart when the ASI first used it:

    And also when they tried again:

    Both are worth a read.

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