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104

The Intellectual History of a Dangerous Idea, 1692-1942

1
terms
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notes

Blyth, M. (2015). The Intellectual History of a Dangerous Idea, 1692-1942. In Blyth, M. Austerity: The History of a Dangerous Idea. Oxford University Press, pp. 104-131

(adj, noun) causing vomiting

121

Austerity may be painful, but it is unavoidable since undergoing such emetic periods is the essence of capitalism's process of investment and discovery

—p.121 by Mark Blyth
confirm
6 years, 7 months ago

Austerity may be painful, but it is unavoidable since undergoing such emetic periods is the essence of capitalism's process of investment and discovery

—p.121 by Mark Blyth
confirm
6 years, 7 months ago
123

The Treasury's argument, echoing Hume and Smith, was that to borrow money to finance spending, the government would have to offer better terms than those available elsewhere. This would have the effect of reducing overall investment by
"crowding out" private capital while increasing the debt for what would offer only a temporary respite rather than a full-blown cure. [...]

Britain in the 30s. wat

—p.123 by Mark Blyth 6 years, 7 months ago

The Treasury's argument, echoing Hume and Smith, was that to borrow money to finance spending, the government would have to offer better terms than those available elsewhere. This would have the effect of reducing overall investment by
"crowding out" private capital while increasing the debt for what would offer only a temporary respite rather than a full-blown cure. [...]

Britain in the 30s. wat

—p.123 by Mark Blyth 6 years, 7 months ago