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The age of "austeritarian" neoliberalism is necessarily one tainted by a tremendous sacrifice of advancement.
But as ever, I hasten to add that the utilisation of idle fiscal space is not guaranteed to be applied to the right kind of projects.
The modern state derives its exceptional power to vouchsafe progress from being heavily restrained.
The left have unlearned this lesson that historically they had been the first to comprehend. The right opportunistically overlooks the capacity of the state to do good — unless it suits their interests. For more see here.
Ultimately, responsible economic policies can be expected only from a state pushed to do good and held back from doing bad by the effective political competition exerted by a vibrant democracy. This ensures that gigantic projects will not be colossal white elephants or worse: roads to hell.
The left have unlearned this lesson that historically they had been the first to comprehend. The right opportunistically overlooks the capacity of the state to do good — unless it suits their interests. For more see here.
Ultimately, responsible economic policies can be expected only from a state pushed to do good and held back from doing bad by the effective political competition exerted by a vibrant democracy. This ensures that gigantic projects will not be colossal white elephants or worse: roads to hell.
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