Post #1630511
2025-09-02 23:04 UTC
@UKnoGum @the_blackwell_ninja and it’s by design. In the early 20th century economists already concluded that unregulated capitalism is unsustainable. As they didn’t want to introduce ‘communist elements’ (like distribution of wealth) the concept of ‘austerity economics’ was created. Since this perfectly fits the fascist political model, the two almost go hand in hand.
https://www.dissentmagazine.org/online_articles/the-dawn-of-austerity/
Replies (2)
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@ActNowOnClimate@newsie.social 2025-09-03 01:00
@Dave_von_S @UKnoGum @the_blackwell_ninja Austerity economics only for the poor, never for the wealthy.
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@greennomad@mastodon.green 2025-09-03 07:44
@Dave_von_S @UKnoGum @the_blackwell_ninja - as Adam Smith also already warned in his ‘On the Theory of Moral Sentiments’…. Intended as ‘twin’ to ‘Wealth of Nations’, it’s barely as famous….