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Sunday, April 21, 2013
21/4/2014: Sunday Independent article
My article on Euro area austerity policies failure in Sunday Independent - it's not in levels of cuts, but in the lack of real change from the status quo.
"austerity we have experienced has been nothing less than a misallocation of scarce economic resources from productive sectors............" What productive sectors ? Why do you think the private sector in Ireland is productive post 1980 ?
When the labour share of GDP declined the private sector formed around the servicing of surplus value. Its hairdressers head to toe. Very little real manual work is done. The crisis in farming points the way - everything is being eaten by intermediate consumption which only real labour can solve.
"austerity we have experienced has been nothing less than a misallocation of scarce economic resources from productive sectors............"
ReplyDeleteWhat productive sectors ?
Why do you think the private sector in Ireland is productive post 1980 ?
When the labour share of GDP declined the private sector formed around the servicing of surplus value.
Its hairdressers head to toe.
Very little real manual work is done.
The crisis in farming points the way - everything is being eaten by intermediate consumption which only real labour can solve.
Excellent article. Itwis just a shame you support aggressive monetary policy. The only flaw in your argument.
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