The political idea and the political measures, 'austerity' are
based on a simple and single myth. Namely that economic growth
is stopped when the national debt reaches a critical limit of
90% of the GDP. This comes from a single scientific article
published by two economists, Reinhart & Rogoff. In the
meantime this article has been debunked as being scientific
crap. Very few economists agree with the ideas. Nearly no
economists think that austerity is the answer to the crisis.
In the meantime –
you cannot stop a running train – austerity will continue.
Austerity is ruinous for our society, as will be shown here.
It is unnecessary and ruinous.
For more information, contact me at The University of The
Prof. Peter Stallinga