Quotes of All Topics . Occasions . Authors
When we see the banks get bailed out with seemingly no consequences while ordinary people pay the price with job and wage cuts through austerity measures, who could blame a person for wondering where the loyalties of their elected leaders really lie?
Neoliberalism is hard to define. It could refer to intensified resource extraction, financialization, austerity, or something more ephemeral - a way of life - in which collective ideals of citizenship give way to marketized individualism and consumerism.
When malice has reason on its side, it looks forth bravely, and displays that reason in all its luster. When austerity and self-denial have not realized true happiness, and the soul returns to the dictates of nature, the reaction is fearfully extravagant.
It is time to recognise that austerity alone condemns not just Greece but the whole of Europe to the probability of a painful and protracted era of little or no economic growth. This would be a tragedy not just for Greece and for Europe, but for the world.
A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic.
European officials thought that austerity was part of what they called their 'convergence policies,' of trying to bring countries together. Instead, it actually made things worse. There's more inequality within countries and more disparity across countries.
But the fact that we had to devalue by 40% at once means that Malawians are feeling the shock, the impact of that huge devaluation and particularly rural people, the poor are the ones that are going to be most affected. That is why there is the austerity plan.
With neoliberalism discredited and austerity failed, we need to rewrite the rules of the economy once again. But this time in the right way. We need rules that focus on long-term economic growth, and the only kind of sustainable prosperity is shared prosperity.
Austerity and economic insecurity have collided with the scapegoating of migrants and refugees, at a time when global instability and warfare have driven millions to flee violence and persecution, a minority of whom have arrived on European shores to be met with hostility.
Italians have always had a high savings rate. They love putting their money into their own government bonds - even more than in houses, stocks and gold. The higher rates climb, the happier they are to invest. So if austerity plans drive rates up, it's music to Italian ears.
Discovering how to spend leisure time well, especially during a time of austerity, could be as important in the effort to reduce crime as having extra police on the streets, and increasing the population of concert halls may actually help decrease the population of prisons.
I have dealt with a pretty interesting mix of young people, many of whom have never been involved in any form of politics at any level who are interested in alternatives to austerity and debt, and older people who left the Labour party, mainly over Iraq, who are coming back in.
Since the crash of 2008 and during the neoliberal retrenchment known as austerity, many commentators have muttered that the left is dead, watching social democrats in their timidity lose elections and respond by becoming ever more timid and neoliberal. They deserve their defeats.
Greece and the Greek people have recently had to deal with the harshest consequences of the global and European economic crisis. As an economy and as a society, we have had to experience a program of disastrous austerity which made the problems more acute instead of resolving them.
Our problem in the 2015 general election was that for all the good stuff that was in the Labour manifesto, we were still going to be freezing public sector wages, cutting council expenditure, laying off civil servants. We were offering 'austerity light' instead of a real alternative.
If the 'Athens Spring' - when the Greek people courageously rejected the catastrophic austerity conditions of the previous bailouts - has one lesson to teach, it is that Greece will recover only when the European Union makes the transition from 'We the states' to 'We the European people.'
Zen, on the other hand, is not so dogmatically sterile, though there are certainly traces and more than traces of this austerity. However, with Zen we have not only the void, but the fertile void. The ink lines in a sumi-e painting show this fertility of the void ever ready to brim over into existence.
Schools unable to keep their lights on and their doors open for the full working week is just the latest bleak instalment of a long-running show. The age of austerity returns for its ninth miserable year; always in the background, the common denominator in everything from the Brexit vote to knife crime.
There is a danger for Britain as we perceive ourselves, or as we are - less wealthy, facing economic austerity - that we essentially draw back. I think there is a recoil in parts of the country, and in parts of the government actually, from the multilateral system, and I think that's dangerous and wrong.
In Europe there's an dangerous growth of ultra xenophobia which is pretty threatening to any one who remembers the history of Europe... and an attack on the remnants of the welfare state. It's hard to interpret the austerity-in-the-midst-of-recession policy as anything other than attack on the social contract.
Despite my deep misgivings about austerity and the harm it would do, I agreed to chair the national infrastructure commission under a Tory government, because I believed that delivering infrastructure investment could help build a brighter future for businesses and families. I am a pragmatist. I do what works.
The idea that we're going to austerity ourselves into prosperity is so mistaken, and honestly, I feel like one of the big problems we have is that, because Democrats don't have a deep understanding of or degrees in economics, they allow Wall Street folks to roll in the door and think that they're giving them an education.
The US and Europe are committing suicide in different ways. In Europe it's austerity in the midst of recession and that's guaranteed to be a disaster. There's some resistance to that now. In the US, it's essentially off-shoring production and financialization and getting rid of superfluous population through incarceration.
The moment a large investor doesn't believe a government will pay back its debt when it says it will, a crisis of confidence could develop. Investors have scant patience for the years of good governance - politically fraught fiscal restructuring, austerity and debt rescheduling - it takes to defuse a sovereign-debt crisis.