Quote:
Originally Posted by robaur
My whole point being that family fiances vs state finances are two totally separate things. You can't manage family finances in the same method and principles that you would manage state finances. To do so would be ludicrous. There are times when a government has to run deficit budgets for the good of the long term of the state......Family finances don't have that sort of luxury to do so.
This is a very basic and simple argument. I can make it exponentially more complex but we don't need to go there.
Austerity hasn't worked anywhere.....I would recommend everyone giving a read to the article I linked above.....it's very long but it's very informative.
As for the Olympics, we don't have the luxury to hold them if they are not going to pay for themselves.....so they should only be considered if they are an economic benefit to Alberta's economy. Btw, the economic benefit goes way beyond the profit/loss of the olympics themselves....for those not thinking that way.
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I think the argument against Keynsian theory and anti-austerity is that the government is supposed to reign in spending and raise taxes when times are good - - - history shows that this rarely happens
So yes, austerity does not work in democracies - in good times or bad.