NOBEL ECONOMISTS AGAINST AUSTERITY

I just want to share these outstanding observations. I’ve been saying all along that austerity is not the way to get outta here, so I’ve compiled a few quotes that maybe help some people to understand it. I’m sure Austerians are not going to understand it (just special people).

“I think it’s founded ask Europe to move: all this austerity is the negation of growth” Robert Solow

“Thinking to solve the problem with austerity is a Mirage: this crisis is not a problem and think how this reflects a weakness of thought” Amartya Sen

“What we are suffering is the consequence of inadequate response to the crisis the best way to cut the deficit is to have economic growth” Amartya Sen

“The austerity policy was introduced in Europe too soon. First we must stimulate growth, then think about the budgetary balance” Eric Maskin

“Ppolitics of austerity was a failure: not only did not solve the crisis in the eurozone, but has undermined citizens’ participation by creating disaffection towards politics and institutions” Amartya Sebastian

“I come from Chicago school and I’m a proponent of fiscal responsibility but at this point it is clear that the recovery may not come with the cuts. The via is to put growth before austerity” Gary Becker

“No large economy has raised by a crisis with an austerity plan: it would be a disaster for both the United States and Europe” Jospeh Stiglitz

“I’m not a Socialist. I have nothing against the money, nor hate the rich. I just want to pay more taxes on the middle class" Paul Krugman

"The scandal of capitalism lies in the globalization of poverty, even in the richest countries. And even more so in that circle of illegality untenable in democratic countries" Jean-Paul Fitoussi

"Italy cannot go on like this. You can’t hold a long time with the economy stops and youth unemployment at these levels” Jean-Paul Fitoussi

“All European governments are launching austerity reforms that might reassure the markets but create huge social problems. All of this is sustainable?" Jean-Paul Fitoussi

"Austerity is a dog that bites its tail: at the end you find yourself poorer because a depressed economy cannot generate new tax revenue" Jeff Madrick

"When markets collapse, Governments rely on austerity: just so businesses don’t grow, they produce more wealth and markets crumble again” Jean-Paul Fitoussi

“A flexible labour market will not solve your problems. Only an increase in demand will lead the situation to improve." Joseph Stiglitz

image


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s