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:
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Some interesting stuff from the IEA
6 responses to “Some interesting stuff from the IEA”
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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.
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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.
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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.
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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.
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The Govt did not learn the lesson of “may as well be hung for a sheep as for a lamb”
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A former banker of my acquaintance, Frances Coppola, had some comments on that chart when the ASI first used it:
http://coppolacomment.blogspot.co.uk/2012/05/so-what-about-that-austerity-then.htmlAnd also when they tried again:
http://coppolacomment.blogspot.co.uk/2012/05/silly-charts-and-bad-economics.htmlBoth are worth a read.
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