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Austerity is grounded in liberal economics' view of the state and sovereign debt as deeply problematic. Blyth traces the discourse of austerity back to John Locke's theory of private property and derivative theory of the state, David Hume's ideas about money and the virtue of merchants, and Adam Smith's
There is no alternative" (TINA) is a political slogan originally arguing that liberal capitalism is the only viable system. At the turn of the 21st century the TINA rhetoric became closely tied to neoliberalism , and its traits of liberalization and marketization .
Economist Thomas Piketty welcomed the political reaction to austerity, saying the rise of anti-austerity parties is "good news for Europe". According to Piketty, European countries tried to get rid of their deficits too quickly, resulting in a situation where "their citizens have suffered the consequences in the shape of austerity policies.
23. “In a time of deceit telling the truth is a revolutionary act.” 24. “Gambling, beer and football filled the horizons of their minds.” 25.
The anti-austerity movement in the United Kingdom saw major demonstrations throughout the 2010s in response to Conservative-Liberal Democrat coalition government's austerity measures which saw significant reductions in local council budgets, increasing of university tuition fees and reduction of public spending on welfare, education, health and policing, among others.
Irma Casal, a 53-year-old in Buenos Aires, works three shifts as a garbage recycler, cardboard collector and bricklayer, but, like many Argentines at a time of rising poverty, she still struggles ...
Chomsky analyzes the way in which power relations shifted from the late 1940s to today, in the name of "plutocratic interests". [2] This shift in power relations ends up being an assault "on lower- and middle-class people, which has escalated in recent decades during the ascendancy of what is known as 'neoliberalism' – with fiscal austerity ...
38. “Life must be lived as play.” 39. “No one ever teaches well who wants to teach, or governs well who wants to govern.” 40. “Dictatorship naturally arises out of democracy, and the ...