Saturday, February 22, 2025

Austerity is a fallacy

Careful, as that can be a slippery slope: that exact expression, "financial literacy", has been used in Europe as a way to push ideology - all economy is political.

Will they teach the fallacy that economic agents make rational choices?

Will they teach the fallacy that running a country is the same as running a household or a grocery store (in terms of supposed thrift)?

Will they teach Keynesian Economics or Neoliberal Economics?

Furthermore, will they teach austerity is mathematically self-defeating and in 95% of cases, will fail?

<https://news.ycombinator.com/item?id=43137461>
very respectfully,
kushal