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SPERI Annual Lecture 2015: 'The Failure of Austerity' by Lord Robert Skidelsky - YouTube
economic history - "state spending inherently unproductive." // borrowing is deferred taxation - David Richardo - Rational expectations. Market economy always tended full employment. // Theory and Facts did not align. Keynes realised it post-war. Private investment is inherently volatile, ie slump conditions. state to offset underinvestment of private sector and match their retreat. getting rid of abnormal unemployment. done through monetary expansion (QE) and put onto state balance sheet available to spend. // Where 2009 forward QE got to banks ... // Paul Krugman - Confidence Fairy. // "Look after employment, and the budget will look after itself." but today it's the bond holders confidence who shapes budgets. // Keynes 'it is the long-term confidence of businesses that shape investment, confidence in state to no let a slump happen again.' but austerity, out of ammo talk, political-, social environment/sentiment & Osborne's '2016 will be tough year' speech were counter-productive.
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january 2016 by asterisk2a
OECD: leading countries spend $200bn a year subsidising fossil fuels | Environment | The Guardian
Thinktank says member states and six biggest emerging economies should use sum to tackle climate change instead //&! Company emerges as Europe’s worst climate policy wrecker, according to a new table ranking firms by their records on lobbying and opposition - //&! 'its always about jobs' how about reframe it and retrain these people vs putting them directly on the dole, funded by government - long-term investment! duh. there is always an alternative. //&! - What Exxon Knew About Climate Change - The influence of the oil industry is essentially undiminished, even now. The Obama Administration may have stood up to Big Coal, but the richer Big Oil got permission this summer to drill in the Arctic;
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september 2015 by asterisk2a

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