Spending Your Way Out of Recession

1 post / 0 new

Equador spent its way out of deep recession and did it quickly.

Poverty rates fell, unemployment fell, social spending way up, wages are rising faster than inflation.

It seems they turned their backs on self-feeding austerity, raised taxes on the wealthy, spent money into the economy and are prospering.

In the meantime, the U.S. and Europe cling to the failed neo-liberal economic model embraced by both U.S. political parties. to varying degrees..

Video:

http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=8433

It's probably a pity libertarians and others on the right can't get what's actually proven to be so...not only in our own past, but also in Equador's present..

"Ideological thinking can learn nothing new even if it is something that has just come to pass". - Arendt. How true.

Retired Monk - "Ideology is a disease"

polycarp2
Joined:
Jul. 31, 2007 4:01 pm

Currently Chatting

Time to Rethink the War on Terror

Thom plus logo

When Eric Holder eventually steps down as Attorney General, he will leave behind a complicated legacy, some of it tragic, like his decision not to prosecute Wall Street after the financial crisis, and his all-out war on whistleblowers like Edward Snowden.

Powered by Pressflow, an open source content management system