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"Austerity" worked in Britain and Ireland. Fiscal responsibility is good policy ... for individual, households, companies and governments! http://www.tradinge

• the_why_of_y 11y ago
  The UK GDP actually performed better during the Great Depression of the 1930s, and that was despite deflation due to the gold standard in the early years - doesn't sound like a success story to me. http://www.economicshelp.org/blog/7209/economics/comparing-different-recessions/ http://www.economicshelp.org/blog/7209/economics/comparing-d... I've always wondered about Ireland - it seems they have a strategy for the last decade or so of positioning their country as a tax haven, so that multi-national corporations tend to incorporate in Ireland and move their profits that are actually made in other countries there by creative accounting (like Intellectual Property licensing deals between subsidiaries). What effect does that have on GDP? Has anybody investigated this?