Has Austerity Failed? (Has It Even Been Tried?)

I discuss this and other issues — the war on drugs and Obamacare — with the Mises Institute‘s Mark Thornton. Subscribe to the Tom Woods Show on iTunes or Stitcher!

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  • Sam

    Dear Tom,
    Unrelated, but a couple of show suggestions:
    Interview Praxgirl.
    Discuss the resource based economy, as advocated by The Zeitgeist Movement.

  • fling1

    Was I the only one disappointed by Mark’s differentiation between “IMF” austerity vs. “Austrian” austerity??

    Really? Austrian austerity leaves all government services intact but balances the budget by cutting government salaries? Surely wasteful programs must be cut, services reduced, etc. to make enough of a dent in spending to matter? Latvia and Estonia are held up as an example, but no details provided.

    I hear all the time that “Austerity makes things worse – it’s being proven in Europe right now!” Obviously MSM sources provide this argument, but I was really, really looking for this webcast to give me more solid ammunition to refute this mainstream view.

    I guarantee the “well, austerity really just means cutting the pay of government employees” argument will be met with howls of derision. Anyone care to bolster this a bit?

  • fling1

    Bueller? Anyone?