Wednesday, November 03, 2010

Supposed to be Convinced?

Harold James writes on Project Syndicate that all critics of austerity and primarily the UK government's package of cuts, are wrong and have their history wrong.

According to James, the markets turned on the UK and US back in the early 1930s forcing them into austerity.

That may be so, but James's article contains precisely nothing other than conjecture on this.  There is no inclusion of any numbers or other data to support his conjecture.  He simply asserts, a bit like George Osborne and David Cameron do, that the markets are concerned and hence this is unavoidable.

I remain unconvinced by such conjecture that is put forward without a shred of evidence to accompany it.