Progressive austerity?

In: Uncategorized

23 May 2009

It is rare to find new ways of expressing growth scepticism – the arguments tend to fit into well-established patterns – but Richard Reeves came up with one in an article in the Financial Times yesterday. The director of Demos, an influential British think tank, came up with “progressive austerity”. By this he means cutting public spending in such a way that preserves the programmes that most benefit from the poor.

The fundamental point this misses is that what is needed is growth rather than austerity. Rather than debate which London professional orchestra to cut funding to – he says there are five – we should be discussing how to restructure the economy to bring about vibrant growth.

What next from Demos? Perhaps “how dictatorship can advance democracy”!

Comment Form