Third-dip recession will perpetuate cuts unless we fight myths
Monday 14 January 2013
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EmailThere is a fierce growing debate among political experts at this time about whether our economy will slide into an unprecedented triple-dip recession, as the reality that most have yet to fully recover from the first major economic collapse in decades effortlessly evades passing notice.
Avaricious bankers and government goons are harmonious in their shared belief that only austerity can lead to recovery from a crisis which was triggered by systemic failures they were responsible for.
Meanwhile public services and welfare have been slashed despite real-term wages having fallen for several years.
Successive political administrations are responsible for trying to convince their electorate that this issue is above politics because they distrust any form of financial-sector accountability to its consumers.
Leading economist Joseph Stiglitz recently pointed out: "There is no such thing as truly independent institutions. All public institutions are accountable and the only question is to whom."
Such is the dominating rule of neoliberal ideology that this truth is deliberately obscured by mainstream politicians.
If we are not vocal in urging a rational alternative to this insanitary doctrine, our leaders will return to the very same solutions which have failed us and restore profit at our expense.
Daniel Pitt
Mountain Ash
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