For all those who have missed the show: Paul Krugman takes on two conservative austerity proponents on BBC’s Newsnight programme. It is worth watching as he really wipes the floor with them and reveals their ideological agenda.
Paul Krugman takes on UK Austerity Advocates
01/06/2012 by
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New blogpost: "Paul Krugman takes on UK #Austerity Advocates" by NewsWatch http://t.co/GJuGEtXd #blogs #bbc
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RT @SocialEurope: New blogpost: "Paul Krugman takes on UK #Austerity Advocates" by NewsWatch http://t.co/pmH3CGao #blogs #bbc
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Paul Krugman takes on UK Austerity Advocates – http://t.co/sIezne2D (via @socialeurope) Newsnight Torys witter austerity rhetoric #austerity
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New blogpost: "Paul Krugman takes on UK #Austerity Advocates" by NewsWatch http://t.co/GJuGEtXd #blogs #bbc
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Paul Krugman takes on UK Austerity Advocates – http://t.co/rsbHyW86 (via @socialeurope)
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Paul Krugman takes on UK Austerity Advocates – http://t.co/sIezne2D (via @socialeurope) Newsnight Torys witter austerity rhetoric #austerity
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Paul Krugman takes on UK Austerity Advocates // http://t.co/TyvrczkM
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New blogpost: "Paul Krugman takes on UK #Austerity Advocates" by NewsWatch http://t.co/GJuGEtXd #blogs #bbc
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New blogpost: "Paul Krugman takes on UK #Austerity Advocates" by NewsWatch http://t.co/GJuGEtXd #blogs #bbc
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New blogpost: "Paul Krugman takes on UK #Austerity Advocates" by NewsWatch http://t.co/GJuGEtXd #blogs #bbc
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Paul Krugman takes on UK Austerity Advocates http://t.co/9jUNimuP [@SocialEurope]
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"@SocialEurope: SEJ Article: Paul Krugman takes on UK Austerity Advocates http://t.co/sOvQauIh" #austerity debunked
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SEJ Article: Paul Krugman takes on UK Austerity Advocates http://t.co/qW4p9DUi
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"@Social Europe: SEJ Article: Paul Kruger takes on UK Austerity Advocates http://t.co/QFnddOzd" – more like torpedoes it
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"@SocialEurope: SEJ Article: Paul Krugman takes on UK Austerity Advocates http://t.co/QFnddOzd" more like torpedoes it
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SEJ Article: Paul Krugman takes on UK Austerity Advocates http://t.co/qW4p9DUi
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Paul Krugman takes on two conservative #austerity proponents on BBC’s Newsnight programme http://t.co/9nNyu5O4 via @SocialEurope #Eurocrisis
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Paul Krugman takes on two conservative #austerity proponents on BBC’s Newsnight programme http://t.co/9nNyu5O4 via @SocialEurope #Eurocrisis
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RT @USILive: "@SocialEurope: SEJ Article: Paul Krugman takes on UK Austerity Advocates http://t.co/wgvkAZgi" more like torpedoes it
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Krugman vs the Austerians: shock doctrine edition http://t.co/teqRVR7M (via @socialeurope)
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'The treatment is actually making things even worse.' @NYTimeskrugman takes on UK austerity advocates http://t.co/DjDefnHJ via @SocialEurope
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SEJ Article: Paul Krugman takes on UK Austerity Advocates http://t.co/qW4p9DUi
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'The treatment is actually making things even worse.' @NYTimeskrugman takes on UK austerity advocates http://t.co/DjDefnHJ via @SocialEurope
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'The treatment is actually making things even worse.' @NYTimeskrugman takes on UK austerity advocates http://t.co/DjDefnHJ via @SocialEurope
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"Paul Krugman takes on UK Austerity Advocates" by NewsWatch: For all those who have missed the show: Paul Krugma… http://t.co/YSNiJS1R
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SEJ Article: Paul Krugman takes on UK Austerity Advocates http://t.co/qW4p9DUi
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SEJ Article: Paul Krugman takes on UK Austerity Advocates http://t.co/qW4p9DUi
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SEJ Article: Paul Krugman takes on UK Austerity Advocates http://t.co/SpUsV2wU" find it amazing how conservatives never move the goalposts
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Paul Krugman takes on UK Austerity Advocates – http://t.co/AWeZURVR (via @socialeurope)
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Paul Krugman takes on UK Austerity Advocates – http://t.co/E0ZQRD05 (via @socialeurope)
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RT @hibiscuits1: Paul Krugman takes on UK Austerity Advocates – http://t.co/vNDskmYk (via @SocialEurope)
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Paul Krugman takes on UK Austerity Advocates – http://t.co/AWeZURVR (via @socialeurope)
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El azote de los economistas neoliberales por tierra, mar y aire. Le va a dar algo al pobre Krugman. Aupa Paul!!!… http://t.co/MzIMZgIK
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El azote de los economistas neoliberales por tierra, mar y aire. Le va a dar algo al pobre Krugman. Aupa Paul!!!… http://t.co/MzIMZgIK
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Krugman takes on UK austerity! http://t.co/4Th8LR27
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RT @hibiscuits1: Paul Krugman takes on UK Austerity Advocates – http://t.co/vNDskmYk (via @SocialEurope)
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Just watched this video. Recommend it: "Paul Krugman takes on UK #Austerity Advocates" by NewsWatch http://t.co/BR479YOR #austerity #uk
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Just watched this video. Recommend it: "Paul Krugman takes on UK #Austerity Advocates" by NewsWatch http://t.co/BR479YOR #austerity #uk
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Paul Krugman takes on UK Austerity Advocates http://t.co/3KzLClvc
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Si alguien se animara a poner subtítulos en castellano a este vídeo http://t.co/5Y5UiAhV
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Si alguien se animara a poner subtítulos en castellano a este vídeo http://t.co/Z79sMflc
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Paul Krugman takes on UK Austerity Advocates – http://t.co/CdEH22Or (via @socialeurope)
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.@nytimeskrugman takes on UK austerity advocates http://t.co/7wh6aufV I am on Krugmam's side!!!
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Paul Krugman takes on UK Austerity Advocates – http://t.co/FTm17PIk via @socialeurope
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Wow. The austerity folks really grasping straws at the end there . . . sure, by all means, let’s all imitate bleedin’ Estonia?!
“Wipe the floor”! Mr Krugman buried both right-wing ‘austerity-driven’ alleged experts beneath the floorboards of the studio: Moulton and Ledson were embarrassingly unable to explain or answer Krugman’s challenge ‘austerity doesn’t work even in Fiscal terms’… the analogy of the blood-letting supremely straightforward as Ledson’s “reckless” allegation and claim of “..actually austerity-Lite”, was confounded by inability to address the focal point of ‘both private and public (Government) contracting at the same time’. Krugman’s appeal that the “future generation” are victims of ‘crime’ by these “misguided austerity” measures had Ledson muttering that Graduate Leavers will ‘all set up businesses in the private sector’! Is the woman completely off her Economic trolley: A UK Graduate is going to compete with China, India etc. corporations!? The 2 on 1 ‘press’ became a walk-over when Ledson denied there was a DEPRESSION (!?) and Moulton alleged TINY Estonia as the example for the UK to follow! Fortunately Paxman cut off Krugman from totally destroying the 2 so-called experts on Economics.
I have trouble balancing my cheque book but I found Paul Krugman’s explanation to be lucid and convincing. Slowing government spending- in particular health payments, social supports to the vulnerable and capital spending – and continuing with austerity programs makes tno sense to me for several reasons. Firstly, usually the largest spending department in any liberal democracy is health and the biggest component of that area’s budget is salaries and pharmaceuticals. Slowing spending here just means lowering wages or removing staff – either through the actual release of staff, a reduction of wages across the board or shifting from public to private providers. Secondly, lowering social support payments to seniors and the unemployed just creates greater vulnerability and exclusion for populations that already face these issues. I would argue that increasing social vulnerability and social exclusion creates long term morale and cohesion difficulties that prove much more costly in the long run. Thirdly, education reductions usually mean hiring fewer teachers which increases average class sizes and contributes to poorer outcomes. And, of course, reducing government expenditure usually involves slowing or removing capital expenditure plans which are usually a disguised stimulus package for the private sector. All of which might appear to manage a financial deficit but creates a much more intractable human capital deficit. The solution is smart investment that creates growth and starting with much better taxation on at least the top 0.1% – note not the 1% .
Problem is that the rest of the world doesn’t want to keep subsidising Europeans’ lifestyle choices. If you or I were unable to repay our house mortgage then the lenders would want our house AND pursue us for any shortfall. It’s also true that contracting in a time of recession is a bad idea, all things being equal. However, when the country is already bankrupt then why should we lend you more money, in effect throwing good money after bad? By all means start taxing the 1%, hit them hard, but there appears to also be a mindset that tax avoidance is clever and everyone’s responsibility. That simply has to change.