Topic: | Re:Re:Re:Re:Re:It's more than just one quarter | |
Posted by: | Thomas Barry | |
Date/Time: | 25/04/12 23:52:00 |
"We need more exports. We cannot spend our way out." More exports requires an activist industrial policy (I think it's safe to say letting your manufacturing industry dangling in the breeze hasn't led to a particularly robust sector. An activist industrial policy requires activist government in the form of education (particularly vocational), planning, picking sectors to encourage with tax breaks, etc. This doesn't cost a fortune, but does require public spending. I don't buy the argument that 'we can't spend our way out', but we apparently can cut our way into a spiral of further decline that in turn demands further cuts and everyone nods smugly and talks about austerity and tough times. Nuts to austerity, I say - we're not going to built a strong export economy by sitting in a dark room beating ourselves over the head with a stick and smirking because we've saved money on electricity. |