Austerians Create Unemployment

 

Two Standards of Justice
Two Standards of Justice

Austerians Create Unemployment

Austerity Has Cost The U.S. Economy 2.2 Million Jobs: Study

Austerian doctrine states that if we can get the deficit down even during periods of economic slowdown and massive unemployment, we shall see an economic upturn. So far this hasn’t happened anywhere on earth. (There are some claims that two former states of the Soviet Union have done okay with it. I don’t believe that. If you want to, that’s okay. It’s just that I don’t go to the former Soviet Union for my economic data.)

But they have managed to move the economy. Their philosophy has resulted in the destruction of 2.2 million jobs and that’s only in the United States. Ideas move the world, and here we have solid evidence that bad ideas can move the world in the wrong direction.

James Pilant

The Real Cost of Austerity

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The Most Contaminated Place on Earth: Chelyabinsk-40 (via Sometimes Interesting)

Currently there is a great deal of admiration in the American business press for nations like China and Vietnam. They are great places to invest, we are told; and we are told this with great confidence. One of the reasons they are great places to put your business or your money is the lack of “uncertainty.” You see democracy is messy while human rights crushing totalitarian regimes are predictable. A democratic country might consider raising the minimum wage while a Chinese regime can assure companies that such a thing will never happen.

However, there are occasional down sides to totalitarian Communist societies however friendly they may be to American business. One of these downsides is that their ability to keep secrets means they can do unethical, bizarre or ridiculous things without hindrance. Of course, sometimes when a large nation does these things the results can last much longer perhaps for as far as humans can perceive.

Please enjoy the article.

James Pilant

The Most Contaminated Place on Earth: Chelyabinsk-40 We’re quite familiar with the lore of various secret United States nuclear facilities; their storied history and operations being shrouded in secrecy has fascinated us for decades. What we seldom hear about are the secret nuclear laboratories and test facilities of our greatest Cold War opponent – the former U.S.S.R. One particular installation – Chelyabinsk-40 – was the first Soviet plutonium production complex and the site of three separate mas … Read More

via Sometimes Interesting