[Craig Axford]
According to this article, fear of inflation and creditors’ desire to be paid back in a strong currency has fuelled the austerity argument. However, growing productivity and increasing numbers of debtors is driving down demand. Tom Streithorst argues that a basic guaranteed income is perhaps the only big idea being advanced that could solve that problem.
Tom Streithorst, “Basic Income and the Atavistic Appeal of Austerity,” Pieria, Oct 15, 2013: https://www.pieria.co.uk/articles/basic_income_and_the_atavistic_appeal_of_austerity
Basic Income and the Atavistic Appeal of Austerity -Image by Andrew Parsons, Pieria
