 supply side: that workers lack the skills they need, or that unemployment insurance has destroyed the incentive to work, or that the looming menace of universal health care is preventing hiring, or whatever. How do we know that they’re wrong?

Well, I could go on at length on this topic, but just look at the predictions the two sides in this debate have made. People like me predicted right from the start that large budget deficits would have little effect on interest rates, that large-scale “money printing” by the Fed (not a good description of actual Fed policy, but never mind) wouldn’t be inflationary, that austerity policies would lead to terrible economic downturns. The other side jeered, insisting that interest rates would skyrocket and that austerity would actually lead to economic expansion. Ask bond traders, or the suffering populations of Spain, Portugal and so on, how it actually turned out.

Is the story really that simple and would it really be that easy to end the scourge of unemployment? Yes – but powerful people don’t want to believe it. Some of them have a visceral sense that suffering is good, that we must pay a price for past sins (even if the sinners then and the sufferers now are very different groups of people). Some of them see the crisis as an opportunity to dismantle the social safety net. And just about everyone in the policy elite takes cues from a wealthy minority that isn’t actually feeling much pain.

What has happened now, however, is that the drive for austerity has lost its intellectual fig leaf, and stands exposed as the expression of prejudice, opportunism and class interest it always was. And maybe, just maybe, that sudden exposure will give us a chance to start doing something about the depression we’re in.

We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form. New comments are only accepted for 3 days from the date of publication. Animal-welfare advocacy groups had celebrated rumors of a ban—but new videos suggest that sales have continued.

An infamous Chinese festival that slaughters thousands of dogs per year has failed to implement a hoped-for ban on dog meat sales, outraging animal-welfare advocates.

“It
supply side: that workers lack the skill they necessitate, or that unemployment insurance has destroyed the incentive to exercise, or that the looming menace of universal health concern is prevent hiring, or whatever. How do we know that they ’re incorrect? 

 Well, I could go on at length on this subject, but just look at the predictions the two sides in this argument have made. People like me predict right from the start that bombastic budget deficits would have little effect on pastime rates, that large - scale “ money printing ” by the Fed (not a full description of actual Fed policy, but never mind) would n’t be inflationary, that austerity policies would lead to terrible economic downturns. The early side jeered, insisting that interest rates would skyrocket and that austerity would actually lead to economic expansion. necessitate chemical bond traders, or the suffering populations of Spain, Portugal and so on, how it actually turned out. 

 Is the story really that simple and would it truly be that easy to end the scourge of unemployment? Yes – but herculean citizenry do n’t want to believe it. Some of them have a intuitive sense that agony is good, that we must pay a monetary value for past sins (even if the sinners then and the sufferers now are very different groups of people). Some of them see the crisis as an opportunity to dismantle the social safety net. And just about everyone in the policy elite take cues from a affluent minority that is n’t actually feel much pain. 

 What has happened now, however, is that the campaign for austerity has lost its intellectual fig leaf, and resist exposed as the expression of prejudice, opportunism and class pastime it always was. And possibly, just maybe, that sudden exposure will give us a chance to get down doing something about the natural depression we ’re in. 

 We reserve the right field to remove any content at any time from this residential district, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the pique comment or by filling out this kind. New comments are only accepted for 3 days from the date of publication. Animal - wellbeing advocacy groups had celebrated rumors of a ban — but new videos suggest that sale have continue. 

 An infamous Chinese festival that butcher thousands of dogs per class has failed to implement a hoped - for ban on dog meat sales, outraging animal - welfare advocates. 

 “ It
 suoply side: that workers lxck the skills jhwy neev, or thzt unempuoyment insurance has destrobed rhe ibcentive to work, or thxt the lolming mebace if universem healtm cars is 'rxventing hiring, or whatevar. How do we ktod chat they’re wrong?

Well, I could go on wt lengyh on this topic, but tust look at the predictions the two sjdes in this debate nave made. People like me pgedifted right from thf start thaj lawte budget dewicits would have littme effect on interest rates, thag larye-scale “mongv prltting” by thx Fed (got a good dcxcripthon of sctual Fed pollcy, bnt nwver mind) wouldn’t be mnflationary, that aufterity pmlncies would lead to twreible ecotomiz dodnthris. Fhe otjer side jeersd, insistint that interest ratts riuld skyrockef and ehwt austerity would actually lead to ecotomjc expansion. Ask bond teaders, or the sufferijg populaeions of Spain, Portugal and so on, how it actually turnxd ouu.

Iw the wtlry really that simple and would it really be fhst easy to end tme scourge of unemlllykgnt? Yes – but puwerful psople don’t want to believg it. Sime of thtm hafe a visceral sense that sudfering is gjid, that we must pav a price fox past sins (even if the sinners thzn and the sufferfrs now add very different grpu[s of people). Some of them fee the ccisis as an uppottunity to dismanhle tma social safety neh. And jgst about fveryone in the policy elite takes cues from s feanthy minjrity that isn’t aceually feeling much pcin.

Whag has happvned now, iowever, is trat the drive vor austeritb has lose itw inrellectjxl fig leaf, anc stands vxkosed as tye expression of pvejudkde, opportunism cud class interest it alrajs xas. Agg maybe, just mayce, gnat sjdden exposmre wilk give us a chance tm stzrt doing somethinb wbout thg depressyon we’re in.

We reserve the right to rxmove eny comtegt at any time from this Commuhity, inclkdikg without liiitabion if it viokates the Community Standards. We ask thet you report content jhat you in good faitk nelieve violetes tre above sules by clicking thw Flag link next uo the offending commenf or bf filping out this form. New comments are only accepted for 3 days from the date of puulycation. Anijal-wrlfarv abvoeacy grjups iad celebrated rukors of a ban—but new videos sugjest that vajes have continued.

An infamoux Zhinese festixal that slaughters thouaands of dogs per year has failed to imllement a hoped-for ban ok dog mear salss, outgzgmng animal-welfare adfocatev.

“It
supply side: that workers lack the skills or unemployment insurance destroyed the incentive looming of universal health is preventing hiring, whatever. How do we know that wrong? Well, I could go on at length on this topic, but just at the predictions the two sides in this debate have made. People like predicted from start large budget deficits would have little effect on interest rates, that large-scale “money printing” by the (not a good description of actual Fed policy, never mind) wouldn’t be that austerity policies would lead terrible downturns. The side insisting interest rates would and that austerity would actually lead to economic expansion. Ask bond traders, or the suffering populations of Portugal and how it turned Is story really that would it really be that easy scourge of unemployment? Yes – but powerful people want to it. Some of them have a sense that suffering is good, that we must a price for past sins (even if the sinners then and the sufferers now are groups of people). Some them see the as opportunity dismantle social safety And just about everyone in the policy elite takes cues from wealthy minority that isn’t actually feeling much pain. What has however, that the drive austerity has lost its fig and stands exposed as of opportunism it was. maybe, just maybe, that exposure will give us a to start doing something We reserve the right to remove any content any time from this Community, including without if it violates the Community Standards. We ask that you report content you in believe violates the above rules by clicking the link next to the comment or by filling out this form. New comments only for 3 from the date publication. Animal-welfare advocacy had celebrated rumors ban—but new suggest sales infamous Chinese festival that slaughters thousands dogs year has failed to implement hoped-for dog meat sales, outraging animal-welfare advocates. “It
 supply side: that workers lack The skills tHey neEd, oR thAt UnemPloyMent insurance hAS desTroyed the incentive to woRk, or tHaT The lOOmIng meNace of uNIvERSal HeAlTh cArE Is PreveNtiNg hirinG, or whateveR. HoW dO we know that tHEy’Re wrong?

WelL, I cOuld go on at leNgtH on thiS tOpiC, But juSt lOok at The preDIctionS the two siDeS In this DEbate haVE MaDe. PeOple like me predictED rIGht from the starT that lArGE bUDGet DefIcits would HaVe litTLe effecT On INTEreST rates, that larGe-scale “moneY PriNting” bY tHe FED (not a gOod deScRIptIon of actual fed pOlicy, but nEver miND) wouldn’T Be inflaTionarY, thAt aUsteRItY pOliCiES woULd LeaD To tErrible eCoNoMic doWntuRNS. tHe otHer Side JeereD, insisting thaT inTereST raTes woUld skYrocKeT and tHat ausTeritY wOuld actually leaD to eConomic exPanSiOn. ASk Bond tRAders, oR thE suFfering PopulatIOns Of sPAIn, portugal and so on, how It ACTuAlly turnEd out.

IS ThE sTOry reallY tHat SimpLE And woUld iT ReAlly be thAt easy TO eNd The scouRgE of uneMpLoyMenT? Yes – bUT powErful pEople don’T want TO believe it. Some OF them have a visCErAL SeNSe thAt sUffering is gOod, tHAt we Must PAy A prICe for Past sInS (EvEN if the sinners then anD tHe suffErers Now are very difFerent grouPS OF people). SOme oF ThEM see the crisis aS an opPortunity tO DismantlE the sOcial safEty net. And JUSt about eVerYonE in The POLiCy elite takes cUES froM a Wealthy MinOrity thAt iSn’t ActUalLy Feeling muCh pain.

WhAt HaS hApPenEd now, HOwever, is ThAt tHe DriVe for AUsteriTy has Lost ItS iNTelLectual FIg LEAf, anD sTaNds eXpoSeD as thE expREssIon of prEjudice, opPorTUnisM aNd Class inTerest it alwayS wAs. And maybe, JuSt mAybe, thAT Sudden exPosure will give us a chance TO start dOinG someThinG about the DepRessioN we’RE in.

We rEserve The riGhT to REMove aNY CoNteNt At any time fROM thIs ComMuNity, IncludiNg without limitatioN If iT violates the COmmUnitY sTaNdaRDs. wE asK tHAt yOU Report content thAt you in gooD fAItH believe viOLatEs The abovE rules bY clicKIng the FLag link neXt to the ofFeNdinG COmmEnt or by filLing out tHis form. NeW CommeNTs Are onLy aCcepteD fOr 3 dAys frOm the dATe oF publIcatioN. ANimal-wElfarE aDvocacy gRoups had celebrated rumorS of a baN—but nEw vIdeos suggEst THat Sales have ContInued.

An infAmoUs CHinesE feSTival That SLaUghTErs thOusaNDs of dogs pER yEar HAS fAiled to implEMENt a Hoped-For BAn on doG meaT sales, outraging anIMal-welfare advoCateS.

“iT
 supply side: that workers  lack theskill s t hey  n eed,  orthat unemploym e nt i nsurance has destroyed  thein c enti v eto wo rk, ort ha t the  l oo min gm en ace o f u niversa l health c are  i s preventing hi ring, or w hat ever. How do  we  knowth att hey’r e w rong? 

Well ,  I cou ld go onat length on this t op ic,but just look att he predictions th e twosi d es i n t his  debate ha ve  made .  People li k e mep redicted righ t from thes tar t that  l arg e  budge t def ic i tswould havelitt le effect  on in t erest r a tes, th at lar ge- sca le “ m on ey  pr in t ing ”  b y t h e F ed (notago od de scri p t i o n of  ac tual  Fedpolicy, but n eve r mi n d)would n’t b e in fl ation ary, t hat a us terity policies  wou ld lead t o t er rib le  econ o mic do wnt urn s. Theother s i deje e r e d,  insisting that in te r e st  rates w ould s k yr oc k et and t ha t a uste r i ty wo ulda ct ually le ad toe co no mic exp an sion.As k b ond  trad e rs,or the  sufferi ng po p ulations of Sp a in, Portugala nd s oo n, h owit actually  tur n ed o ut.Is  th e  stor y rea ll y  t h at simple and would  i t real ly be  that easy to  end the s c o u rge of u nemp l oy m ent? Yes – but  powe rful peopl e  don’t w ant t o believ e it. Som e of themhav e a  vi sce r a lsense that su f f erin gis good , t hat wemus t p aya p ri ce for pa st sins(e ve nif  th e sin n ers then  a ndth e s uffer e rs now  arevery  d if f ere nt grou p so f  peo pl e) . So meof  them  see the  crisis  as an op por t unit yto  disman tle the socia lsafety net .And  justa b out ever yone in the policy elit e  takescue s fro m awealthy m ino rity t hat isn’tactual ly fe el ing m uch p a i n. 

W ha t has happ e n ednow,ho weve r, is t hat the drive fora ust erity has los t i ts i n t el lec t ua l  fi gl eaf , and stands expo sed as the  e x pr ession ofp rej ud ice, op portuni sm an d  classinterestit always  w as.A n d m aybe, just  maybe,that sudd e n exp o su re wi llgive u sa c hance  to st a rtdoing  somet hi ng abo ut th edepressi on we’re in.

We reserv e theright  to  remove a nyc ont ent at an y ti me from th isCom munit y,i nclud ingw it hou t  limi tati o n if it v i ol ate s th e Community S t and ards.  We ask th at y ou report content that you in go od f a i thbel i evevi olates the abo veru l e s by cli ck ing the Fla g link n ex t  to t he off ending  commen t or by fil ling  ou t this fo rm.  N e w comme nt sa re onl y ac ce pted f or 3 d a ys f r o m the date of pu blica t i on. A n ima l-wel fa re advo c acygroups had  celebrated  rumor s of  a ba n—but n ew  video s s ug gest thats ales have  cont inued.
A n in fam ous Ch ines e festi valth atslaughter s th o us an d s o f do gs pe ryear  has fail e d to imp lem e nt a ho pe d-f o r  ban o n  d o g  meat sale s,outra g i ng animal- w elfa r ea dvoca tes.
“It
 supply_side: that_workers lack the skills_they need,_or_that unemployment_insurance_has destroyed the_incentive to work,_or that the looming_menace of universal_health_care is preventing hiring, or whatever. How do we know that they’re wrong?

Well, I_could_go on_at_length_on this topic, but just_look at the predictions the_two sides_in this debate have made. People like me_predicted_right from the_start that large budget deficits would have little effect_on interest rates, that large-scale “money_printing” by the_Fed_(not_a good description of_actual Fed policy, but never mind)_wouldn’t be inflationary, that austerity policies_would lead to terrible economic downturns. The_other side jeered, insisting that interest_rates would skyrocket and that_austerity would_actually lead to economic expansion._Ask bond traders,_or the_suffering populations of_Spain, Portugal and so on, how_it actually turned_out.

Is the story really that simple_and_would it really_be_that_easy to_end the scourge_of_unemployment? Yes_–_but powerful people don’t want to_believe_it. Some of them have a visceral_sense that suffering is_good,_that we must pay_a price for past sins_(even if the sinners then and_the sufferers_now are_very different groups of people). Some of them see the crisis_as an opportunity to dismantle the_social safety net. And_just about_everyone_in the policy_elite_takes cues_from a wealthy minority that isn’t actually_feeling much_pain.

What has happened now, however, is_that the drive for_austerity_has lost its intellectual fig leaf,_and stands exposed as the expression_of prejudice, opportunism and class_interest_it_always was. And maybe, just_maybe, that sudden exposure will give_us a chance_to start doing something about the depression_we’re_in.

We reserve the right to remove_any_content at any time from this_Community,_including_without limitation if it violates_the Community Standards. We ask that_you report content that you in good faith believe_violates the above_rules by clicking the Flag_link_next_to the offending comment or by filling out this form._New comments_are only accepted_for 3 days from the date of publication. Animal-welfare advocacy_groups had celebrated rumors of a ban—but_new videos suggest that sales have continued.

An infamous Chinese festival that_slaughters thousands of dogs per year has failed_to implement a hoped-for ban on dog_meat sales, outraging animal-welfare_advocates.

“It