22 May '12, 3pm

There's more to economics than austerity or growth - the latest blog from @AndrewSimms_nef

There's more to economics than austerity or growth - the latest blog from @AndrewSimms_nef

If you went to a restaurant and were offered only a serviette or an after-dinner mint you might think you’d been given a poor choice. You might wonder, is there nothing nutritious I can eat in-between? Similarly, the economic dishes on offer in response to the crisis are either austerity, or growth. That’s it. There is nothing in-between, no other option on offer. You could view this as an improvement. Until very recently it was austerity or nothing. Some might be tempted to view the restart of debate beyond a chorus of austerity as progress, or even a victory over the cuts lobby. But that would be premature. The most recent ecological footprint data tells us that in spite of the rickety state of the economy and lack of demand, globally our rate of consumption is 52 percent more than nature can take. If it’s a case of boosting demand, that has to be specifically for the th...

Full article: http://www.neweconomics.org/blog/2012/05/22/theres-more-t...

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