The Alternative to Austerity

"Borrowing is not the only alternative to spending cuts for governments trying to promote a sustainable economic recovery. The redistribution of income through progressive taxation can provide a similar growth stimulus and help to reduce inequality"

The New Left Project - A few weeks ago on New Left Project, Kevin Blowe wrote on the need for a clearly articulated opposition to massive cuts: an Alternative Plan for the Economic Crisis. From contributions on this site and elsewhere, we can start to see what such a plan might look like: a preference for taxing the rich over cuts for the poor; a preference for investment in what’s socially useful and for cuts to waste like Trident. Lots of good ideas. But perhaps we’re skirting around the main issue: How can we promote economic recovery? How can we create jobs? How can we manage the massive private debt hangover from the last decades? And how can we hope, eventually, to get the public borrowing back to a sustainable level? Read more.