An especially interesting comparison is between the United States and the United Kingdom, which implemented a package of austerity measures in 2010.
That\’s interesting, don\’t you think? For I\’m rather wondering, just where is that austerity. As far as I know the budget deficit is still about 10% of GDP isn\’t it?
The lab experiment that has been conducted in the UK,
Yes, the UK\’s budget deficit has been as large if not larger than that of the US. And yet the outcome with respect to unemployment is worse….so this is an argument in favour of fiscal stimulus how?
austerity has demonstrably failed in the UK – and with more than 90% of the proposed cuts yet to come.
Correct, we\’ve not in fact had any austerity yet.
I don\’t mind people having different ideas about how to make the world a better place. I do rather mind people having different facts about how the world is.