Re:Austerity Is an Antidemocratic Strategy to Boost Capital
by throw0101d on Wednesday January 10, 2024 @02:08PM
(#38941945)
> Austerity occurs when the cost of government borrowing becomes so high governments are would be functionally unable to operate in the medium term without brining it down.
That is not why austerity happens, at least in recent history:
That is not why austerity happens, at least in recent history:
* https://en.wikipedia.org/wiki/Austerity:_The_History_of_a_Da...
During the 2010s, when rates were at an all-time low, Very Serious People were going on and on about "expansionary austerity" to boost the economy:
* https://en.wikipedia.org/wiki/Expansionary_fiscal_contractio...