Comments on: Comment on “The Economic Consequences of Mr Osborne” http://www.debtonation.org/2010/07/comment-on-the-economic-consequences-of-mr-osborne/ Wed, 08 Feb 2012 08:39:46 +0000 hourly 1 By: Mark Porthouse http://www.debtonation.org/2010/07/comment-on-the-economic-consequences-of-mr-osborne/comment-page-1/#comment-2064 Mark Porthouse Mon, 23 Aug 2010 16:03:42 +0000 http://www.debtonation.org/?p=4103#comment-2064 Ann, Thanks very much for your response explaining the recent variance from the point that you are making. It does make sense that particular conditions can make an exception to the 'rule' that you are promoting. The fact that virtually all other periods promote your hypothesis is pretty convincing. Yours, Mark Ann, Thanks very much for your response explaining the recent variance from the point that you are making. It does make sense that particular conditions can make an exception to the ‘rule’ that you are promoting. The fact that virtually all other periods promote your hypothesis is pretty convincing.
Yours, Mark

]]> By: Ken MacIntyre http://www.debtonation.org/2010/07/comment-on-the-economic-consequences-of-mr-osborne/comment-page-1/#comment-1973 Ken MacIntyre Wed, 07 Jul 2010 12:13:08 +0000 http://www.debtonation.org/?p=4103#comment-1973 I agree that this is a valuable and an excellent paper for which the authors must be commended. For more empirical support to the argument, see also Richard Koo's presentation 'The Age of Post Balance Sheet Recessions: What Post-2008 US, Europe and China can learn from Japan, 1990 - 2005', and the 24 minute video on http://ineteconomics.org/people/participants/richard-koo However, essential though winning the argument is, what Michael Hudson calls 'junk economics' is an ideological programme. Public deficits serve as the pretext for a further erosion of the social protection and redistributive functions of government ('shrinking the size of the state') and the hard won social gains of the last 100 years. I agree that this is a valuable and an excellent paper for which the authors must be commended. For more empirical support to the argument, see also Richard Koo’s presentation ‘The Age of Post Balance Sheet Recessions: What Post-2008 US, Europe and China can learn from Japan, 1990 – 2005′, and the 24 minute video on http://ineteconomics.org/people/participants/richard-koo

However, essential though winning the argument is, what Michael Hudson calls ‘junk economics’ is an ideological programme. Public deficits serve as the pretext for a further erosion of the social protection and redistributive functions of government (‘shrinking the size of the state’) and the hard won social gains of the last 100 years.

]]> By: Sabine K McNeill http://www.debtonation.org/2010/07/comment-on-the-economic-consequences-of-mr-osborne/comment-page-1/#comment-1968 Sabine K McNeill Sun, 04 Jul 2010 16:34:29 +0000 http://www.debtonation.org/?p=4103#comment-1968 Ann CONGRATULATIONS on your report! You may want to look at this graph where I put together governmental expenditure over the last 10 years, including the 'austerity budget'. The only item rising is interest on the national debt! See http://bit.ly/dthNsF Ann

CONGRATULATIONS on your report!

You may want to look at this graph where I put together governmental expenditure over the last 10 years, including the ‘austerity budget’. The only item rising is interest on the national debt!

See http://bit.ly/dthNsF

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