Wednesday, 20 October 2010
Sailing into choppy waters
It's the Comprehensive Spending Review today, in which the Tory and Liberal Democrat government institute nakedly reactionary social and economic measures under the guise of dealing with the deficit. The poor, the weak and the hardworking will suffer. The rich and their businesses will not. Organisations like the BBC are being punished for their (relative) independence and for offering an alternative to the world of Fox News, while Murdoch and his friends will be rewarded for their loyalty.
Are massive cuts in welfare, environmental protection, education, housing, transport, the arts etc. justified? Not if you ask Nobel Prizewinner for Economics, Joseph Stiglitz. He, like virtually all expert economists and most government, thinks we should be boosting the economy, not sacking millions of people.
Still, what does he know? Abolishing the state worked brilliantly for Chile under the Pinochet dictatorship (as long as you don't look too closely). Until it didn't.