Austerity Quotes
The danger is not only that these austerity measures are killing the European economies but also that they threaten the very legitimacy of European democracies - not just directly by threatening the livelihoods of so many people and pushing the economy into a downward spiral, but also indirectly by undermining the legitimacy of the political system through this backdoor rewriting of the social contract.
Ha-Joon Chang
I would summarize the Keynesian view in terms of four points:1. Economies sometimes produce much less than they could, and employ many fewer workers than they should, because there just isn't enough spending. Such episodes can happen for a variety of reasons; the question is how to respond.
2. There are normally forces that tend to push the economy back toward full employment. But they work slowly; a hands-off policy toward depressed economies means accepting a long, unnecessary period of pain.
3. It is often possible to drastically shorten this period of pain and greatly reduce the human and financial losses by "printing money”, using the central bank's power of currency creation to push interest rates down.
4. Sometimes, however, monetary policy loses its effectiveness, especially when rates are close to zero. In that case temporary deficit spending can provide a useful boost. And conversely, fiscal austerity in a depressed economy imposes large economic losses.
Paul Krugman
As is often the case with major disputes in economics, the argument over fiscal policy went on for years, with some critics of fiscal policy still defending their position when this book went to press. It seems fair, however, to say that among economists a more or less Keynesian view of the effects of fiscal policy came to prevail. Careful statistical studies at the International Monetary Fund and else where showed that austerity policies have historically been followed by contraction, not expansion. Recent experience, in which countries like Spain and Greece that were forced into severe austerity also experienced severe slumps, seemed to confirm that observation. Furthermore, it was clear that those who had predicted a sharp rise in U. S. interest rates due to budget deficits, leading to conventional crowding out, had been wrong: U. S. long-term interest rates remained near record lows even during the years from 2009 to 2012, when the government ran very large deficits.
Paul Krugman
More than four years after the financial crisis began, the world's major advanced economies remain deeply depressed, in a scene all too reminiscent of the 1930s. And the reason is simple: we are relying on the same ideas that governed policy in the 1930s. These ideas, long since disproved, involve profound errors both about the causes of the crisis, its nature, and the appropriate response.These errors have taken deep root in public consciousness and provide the public support for the excessive austerity of current fiscal policies in many countries. So the time is ripe for a Manifesto in which mainstream economists offer the public a more evidence-based analysis of our problems.
Paul Krugman
I prefer Mexican to Mayan sculpture. Mexican stone sculptures have largeness of scale & a grim, sublime, austerity, a real stoniness. They were the true sculptors in sympathy with their material & their sculpture has some of the character of mountains, of boulders, rocks & sea worn pebbles.
Henry Moore
What we demand from the Soviet architect is that, as an artist and because of his perceptive intellect, he will fully comprehend and amplify the faintest ripple of developing energies much sooner than the masses - who tend to be shortsighted as far as their own growth is concerned - and that he will transform this energy into tangible architectural form.. .The club's role is to become a University of Culture. If one accepts the premise that private dwellings should strive to operate on the basis of the greatest possible austerity, then by contrast, public dwellings should provide the maximum of available luxury accessible to all. The term 'reconstruction' is therefore not applicable to this case, since there is no building precedent in the past.
El Lissitsky
O Mother, I throw myself on Thy mercy; I take shelter at Thy Hallowed Feet. I do not want bodily comforts; I do not crave name and fame; I do not seek the eight occult powers. Be gracious and grant that I may have pure love for Thee, a love unsmitten by desire, untainted by any selfish ends - a love craved by the devotee for the sake of love alone. And grant me the favour, O Mother, that I may not be deluded by Thy world-bewitching māyā, that I may never be attached to the world, to "woman and gold", conjured up by Thy inscrutable māyā! O Mother, there is no one but Thee whom I mav call my own. Mother, I do not know how to worship; I am without austerity; I have neither devotion nor knowledge. Be gracious, Mother, and out of Thy infinite mercy grant me love for Thy Lotus Feet.
Ramakrishna
Following in the footsteps of Maharaja Pariksit, it is the duty of all executive heads of states to see that the principles of religion, namely austerity, cleanliness, mercy and truthfulness, are established in the state, and that the principles of irreligion, namely pride, illicit female association or prostitution, intoxication and falsity, are checked by all means.
A. C. Bhaktivedanta Swami Prabhupada
Is there any man who has ever gone through a whole lifetime without dressing himself up, in his fancy, in the habit of a monk and enclosing himself in a cell where he sits magnificent in heroic austerity and solitude, while all the young ladies who hitherto were cool to his affections in the world come and beat on the gates of the monastery crying, "Come out, come out!"
Thomas Merton
He remembered the dissolute adventures in which his senses, his nervous system and his mind had indulged; he saw himself corroded by irony and intellect, laid waste and paralyzed by insight, almost exhausted by the fevers and chills of creation, helplessly and contritely tossed to and fro between gross extremes, between saintly austerity and lust - oversophisticated and impoverished, worn out by cold, rare artificial ecstasies, lost, ravaged, racked and sick - and he sobbed with remorse and nostalgia.
Thomas Mann
There are mistakes, which governments have been doing when they were trying to face the economic crisis, since 2008. Slow choices, sometimes insufficient, sometimes wrong, never neutral. Political choices made by political governments which must assume their responsibility on them. In Italy we have adopted forward-looking choices, economically speaking, we have adopted austerity as leading value. Now it is time to work on development and growth, to create jobs and exit this crisis.
Federica Mogherini
