What really drives austerity
by David Atkins
An adviser to Margaret Thatcher explains, in carefully and cautiously couched terms, the real reason for the conservative emphasis on austerity (h/t Tom Sullivan):
As a way of reducing national deficits, austerity is terribly ineffective policy, as it weakens the middle-class tax base and long-term economic growth. But as a way of raking more money out of the middle class and into the pockets of the super-wealthy parasitic brigands, it’s fantastic policy.
.