Monday, 4 October 2010

Austerity is nonsense

If you've been reading my posts about how the bank bailouts and the subsequent debt crisis really means that the rich are screwing the rest of us then you may well be skeptical. Try watching this video from Mark Blyth who is a professor of International Political Economy at Brown University and is writing Austerity: The History of a Dangerous Idea, forthcoming with Oxford University Press in 2011.

We have already had to pay £1.2 trillion for the bank bailout in the UK now it looks like we'll be paying much more through loss of jobs, public services and welfare... oh and there may have to be another bank bailout of up to £750 billion. Looks like where the Irish lead we may follow.......

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