2 ms·
>sometimes we favor safety, standard of living or social safety nets above short term profit. Did you read the whole article? The current European standard of
by logicchains 11mo ago
>sometimes we favor safety, standard of living or social safety nets above short term profit.
Did you read the whole article? The current European standard of living is built on debt and unsustainable without an increased rate of growth (to outgrow the debt). And it potentially poses an existential threat, because if Europe's GDP and industrial capacity relative to its neighbours continues to fall, it faces the risk of invasion by e.g. Russia.
- spwa4 11mo agoYou want increased growth? Governments currently are forced to limit their spending to 103% of their budget. This will, essentially by definition, being (much) less than inflation, reduce money in circulation. Increase that to, oh, say 105%, and it'll turn around fast. And debt, which is more or less the single leftover untaxed source of income for the EU's rich, will lose value far faster. This will then immediately make it much harder for the EU's countries to lend, which will therefore immediately achieve exactly what conservatives claim they want.