Spending Your Way Out of Recession

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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

Why the House of Representatives Doesn’t Represent Americans

One of the really weird ironies of politics these days is the huge divergence between what the American people actually want and what the radical right-wingers in Washington actually do. You won’t hear this on Fox So-Called News, but right now the American people are as progressive as they ever have been.

Don’t believe me? Just check the polls.

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