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View Diary: The era of shared sacrifice is over (330 comments)

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  •  It may have been preventable (0+ / 0-)

    But it's hard to say, because it is my view and those of other Austrian economic thinkers that the deficits and massive debt we have are precisely the cause of our current situation.

    Unfortunately, helping those affected by the crisis by (for example) making work for them will simply introduce other structural defects into the economy, namely a structural economic dependence on government stimulus, like an addict who needs his fix.

    Our economy has deep and fundamental structural problems and as this diary implies sacrifices will need to be made by everyone in order for it to get back to equilibrium.

    (-5.50,-6.67): Left Libertarian
    Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

    by Sparhawk on Sun Dec 05, 2010 at 06:11:51 PM PST

    [ Parent ]

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