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History and Austerity Versus Stimulus

From: user 1.
Sent on: Sunday, August 19, 2012 4:34 PM

Focus Points in Crisis: Stimulus vs Austerity

We have had some vitriolic back and forths this week for this Thinker meetup and I believe a bit of refocusing our focus would be helpful. I had put down some questions earlier this week but would like to further reduce the key questions to three for the discussion Monday at the Carrollwood Cultural Center August 20 at 6:30 PM.

1. Are the rules of engagement in our discussions entirely different since the end of the Cold War? When the Soviets gave up the socialist/communist doctrine and the West and capitalism essentially won the war, what has changed in our discussions because of this?

2. There are practical considerations in these situations where economies start creating more harm than normal, those times commonly referred to as recessions. A focus for this would be that most can acknowledge a capitalist engine is needed to create the wealth where opportunities reside, but is not the idea of ‘stimulating’ a sick economy back to health not equally valid. In fact there is strong evidence stimulus was the major reason that the recessions of 1982, 1991, and 2000 were nursed more quickly to health by varied stimulus packages.

3. Between the economic theories we might discuss at high levels, there is another consideration that we must bring forth. One of the real problems exposed glaringly since the worldwide economic crash in late 2008 is we are living in a universe with far less opportunity for individuals, particularly younger individuals, than years past. Is there a way out of this or is this even true?

There was also a story in the Sunday Tampa Bay Times from a guy hawking a book about a very interesting take on the history of the stimulus versus austerity during this most disastrous recession we have had since the Great Depression. It provides quite a bit of fodder for our discussion.

http://www.tampabay.com/news/perspective/what-the-stimulus-worked/1246202

If you want to join the discussion, click on the link below:

http://www.meetup.com/tampa-bay-thinkers/events/73245282/

Dale Friedley
Your Head Dork

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