The Science and Ethics of Austerity: Lessons from the US and Europe | Common Dreams
"Around the world, corporate media and even substantial segments of the working class have embraced an old religious creed, the celebration of austerity. Its cold bath is supposed to rid us of our sins. Its tenets stand in contrast to the academic wisdom of post World War II generation and to many of the metrics commonly accepted across the political spectrum. We cannot understand the power of this reborn orthodoxy without addressing its complex roots. Several historical narratives converge. They reflect and sustain compelling social and personal identities. These seem especially comforting amidst cultural and economic turmoil."
