(This is the original draft of an article I wrote for the University Observer. A counter argument was also written.)
Whenever someone tells you there is no other option, don’t believe them. There are always other options and when people pretend otherwise its usually because they want to shut the debate down. So when Michael Noonan grimly announces that we have no choice but to implement austerity, we shouldn’t blindly accept this. There is always an alternative. Continue reading “Austerity Isn’t Working”
The crisis has given rise to a range of new ideas and theories to replace the discredited view of the economy. The newest and most imaginative of these is known as Modern Monetary Theory (MMT) and is one of the first theories to owe its growth to the internet. Without a doubt MMT is radical and completely turns established economic thinking on its head. If it is correct then it would change the way we think about the economy forever.
Continue reading “What Is Modern Monetary Theory?”
Have you ever thought old people have it too easy? That we’re wasting money on the sick? That money should redistributed from them to the super rich? Do you think Mitt Romney and other rich people should only pay 1% in tax? Do you believe we should take from the poor to give to the rich? Have you ever looked at Somalia and thought “that country does well without a government, we should defund ours”? Do you oppose laws that would require men and women to get equal pay for equal work? Do you like pretending to be a deficit hawk while really massively increasing the national debt? If so then you’ll love the Republican Vice Presidential candidate Paul Ryan. Continue reading “The Disastrous Mr Ryan”
Einstein once defined insanity as doing the same thing over and over again and expecting different results. For four years the government has being cutting spending and raising taxes. For four years we have been told it is the only way to reduce the deficit, restore growth and create jobs. Yet four years later we still have a large budget deficit, high unemployment and the economy is still contracting. Continue reading “Why Austerity Isn’t Working”