Debunking Economics - the podcast
The temerity of austerity
Nov 22, 2023
The podcast explores the concept and consequences of austerity measures implemented by the UK government. It discusses the negative effects of austerity, including cuts to public services, a decline in life expectancy, and the rise of hate crimes. The chapter also delves into the connection between austerity and the rise of the Nazi party. The relationship between government debt, money supply, and interest rates is also examined, along with the potential inflationary effects of government spending.
40:01
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Quick takeaways
- A government budget in surplus is sucking money out of the economy, contradicting the belief that governments should live within their means.
- Austerity measures have harmful consequences, including cuts to public services, a shortage of UK life expectancy, and an increase in hate crimes.
Deep dives
Main Idea 1
Austerity and the belief that governments should live within their means is a flawed concept that can have significant detrimental effects.
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