2 ms·
Sure austerity works. Austerity means not throwing good money after bad. Whereas you can lose unbounded amounts of money with stimulus spending, or cause hype
by faeriechangling 2y ago
Sure austerity works. Austerity means not throwing good money after bad. Whereas you can lose unbounded amounts of money with stimulus spending, or cause hyperinflation.
If people felt like Greece would have been successful without austerity, they could have lent Greece money at lower rates and with less conditions than the IMF.
- faeriechangling 2y agoThis all being said, the poverty trap is a real thing and making people so poor they can't pull themselves up by their bootstraps it can be very expensive in the long run.