Alternative to Austerity

SACA plans to introduce one or two speakers at each monthly meeting to stimulate discussion on strategy, as suggested by some SACA supporters.  SACA chair Martin Mayer has written a short article spelling out his view of the alternative to austerity in order to stimulate debate.  You can add comments and views to this post.

Alternative to austerity

 

One response to “Alternative to Austerity

  1. As a friend put it to me, we need an answer to “there is no alternative”. Without an answer, how can we win over support from a population that has come to depend upon the mainstream media for answers, and consequently, and in failing to recognise that this economic attack is ideologically driven, believes that the need for “austerity measures” is urgent and unavoidable. So we need an alternative (or perhaps, at least to begin with, a set of possible alternatives) so that we can challenge the lie, by drawing people into a debate.
    .
    The solutions you suggest are good ones – a “New Deal” approach being exactly what is required. I am not an economist but from research, and using a little common sense, a few months ago I put together a similar set of proposals, which are available to read approximately halfway through the following post:
    .
    http://wallofcontroversy.wordpress.com/2011/07/21/the-answer-to-tina-is-trish/
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    The key points:
    i) increase tax on corporations and (most fairly and importantly) on the city (I recommend a 1% Toban Tax), which will help to diminish some of the excesses such as high frequency trading.
    ii) We need government investment in productive ‘living wage’ jobs many of which should also improve infrastructure
    (And the one that is most essential but often overlooked or forgotten)
    iii) reregulation of the markets, with a full investigation into the rampant and systematic fraud, resulting in prosecutions and a full cancellation of ‘odious debt’. See this post:
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    http://wallofcontroversy.wordpress.com/2011/05/28/debtocracy-and-its-remedy/
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    I firmly believe that some programme of this kind is desperately needed, If we fail to take on the bankers, as part of our effort (and FDR certainly did), then the root of the problem remains, which is the mountain of ‘toxic derivatives’ that caused the banking crisis and that can never be repaid.

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