The seminaries must be like the churches' poor relations, prolonging their existence with austerity.
The idea that we're going to austerity ourselves into prosperity is so mistaken, and honestly, I feel like one of the big problems we have is that, because Democrats don't have a deep understanding of or degrees in economics, they allow Wall Street folks to roll in the door and think that they're giving them an education.
Austerity is not part of the European treaties; democracy and the principle of popular sovereignty are.
Deficits must be cut, yes, but the rush to austerity risks undermining the fragile global recovery.
Prosperity should be our goal, not austerity.
The moment a large investor doesn't believe a government will pay back its debt when it says it will, a crisis of confidence could develop. Investors have scant patience for the years of good governance - politically fraught fiscal restructuring, austerity and debt rescheduling - it takes to defuse a sovereign-debt crisis.
If the program goes off track again due to recession, this should not become a pretext for the imposition of more austerity measures.
Even in a time of fiscal austerity, education is more than just an expense.
It is time to recognise that austerity alone condemns not just Greece but the whole of Europe to the probability of a painful and protracted era of little or no economic growth. This would be a tragedy not just for Greece and for Europe, but for the world.
The emphasis so far on fiscal austerity, while to a degree necessary for the countries facing market funding difficulties, is excessive when carried out across the board.
