Austerity is naive. Professor Steve Keen explains in words the Vole can understand.

Prof. Steve Keen argues against 'austerity'
Prof. Steve Keen argues against ‘austerity’

Now being a poor Vole, I do not often look at Investment websites – a mate in Glasgow sent us a link to this video make by a man who predicted the 2008 crash. The speaker is Professor Steve Keen of the University of Kingston.

” … who was one of the few who predicted the Great Recession, warned last year that the US and UK economies wouldn’t make a sustainable recovery due to the problem of high levels of private debt – public debt being more a symptom than a cause of this economic malaise.

In this interview he gives a detailed explanation as to why the austerity-heavy economic policy of the Conservatives (and the Liberal Democrats), and the austerity-lite version from Lab is naïve and will lead not to economic growth but to economic stagnation.

Indeed, while not endorsing any political party, he does acknowledge that the economic policies of the SNP and Greens make more sense.”

Now if a vole can understand this, will a trow or a hogboon?

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