Cherchez la Verite: HISTORY OF HOW THE RICH HAVE DELIBERATELY RUN UP DEFICITS SINCE REAGAN'S TIME LARGELY BY CUTTING THEIR OWN TAXES, LEADING INEVITABLY TO PRESSURE TO SLASH SPENDING ...WHICH TO THOSE IN POWER DOESN'T MEAN CUTTING SPENDING FOR ILLEGAL WARS BUT RATHER SLASHING FUNDING FOR HEALTH, EDUCATION, AND SOCIAL SECURITY.

Friday, May 06, 2011

HISTORY OF HOW THE RICH HAVE DELIBERATELY RUN UP DEFICITS SINCE REAGAN'S TIME LARGELY BY CUTTING THEIR OWN TAXES, LEADING INEVITABLY TO PRESSURE TO SLASH SPENDING ...WHICH TO THOSE IN POWER DOESN'T MEAN CUTTING SPENDING FOR ILLEGAL WARS BUT RATHER SLASHING FUNDING FOR HEALTH, EDUCATION, AND SOCIAL SECURITY.

theREALnews

May 5-6, 2011
Part 1

Austerity Hawks Want a Return to 1920's Capitalism

James Crotty: Objective of austerity campaign is a return to unregulated capitalism and weak unions

Part 2

High Deficits were the Objective of Right Economics

James Crotty: High deficits deliberately created to justify return to 1920's capitalism.

Find originals here.

Bio

James Crotty is a Post-Keynesian macroeconomist whose research in theory and policy attempts to integrate the complementary analytical strengths of the Marxian and Keynesian traditions. He received his Ph.D. from Carnegie Mellon University in 1973, and after teaching at the University at Buffalo and The State University of New York, he joined the Economics Department of the University of Massachusetts Amherst, Amherst. He has made contributions to the social structure of accumulation (SSA) theory; the implications of radical uncertainty for macro theory and theories of financial markets.