Economy 52,889 Posted December 7, 2014 Share Posted December 7, 2014 Short vid: http://www.youtube.com/watch?v=1xALPftHbTw The head of the IMF (Christine Laggard) which is worlds largest financial organization talks about investing rather than austerity to grow the economy while making structural reforms Link to post Share on other sites More sharing options...
Altair 2,003 Posted December 7, 2014 Share Posted December 7, 2014 What does she mean when she says "austerity" ? Link to post Share on other sites More sharing options...
AIex 3,102 Posted December 7, 2014 Share Posted December 7, 2014 Oh I thought this was gonna be a joke about how u must pay for a bigger d. LOL. Link to post Share on other sites More sharing options...
Economy 52,889 Posted December 7, 2014 Author Share Posted December 7, 2014 What does she mean when she says "austerity" ?well in this specific video she doesnt say that word i dont think, she has in the past when talking about the same issue Austerity is basically hard sacrafices. Tax hikes and/or cuts to fix the budget would be austerity measures It is argued rather than cutting spending u should stimulate growth, but also combine more spending and/or tax cuts with structural changes to maximize growth After WWII our debt to GDP ratio was even higher in many countries than now but economic growth was robust so the ratio dropped even tho Nations were still having deficits We need to increase competitiveness by deregulating private sector, and increasing workforce by raising retirement age and increasing immigrants because of aging population issue Link to post Share on other sites More sharing options...
Luc 4,776 Posted December 7, 2014 Share Posted December 7, 2014 Just watched it, and I disagree a little bit. Debt needs to be sustained. Of course, better infrastructure is great, but it costs so much and takes a long time to earn back money. Cuts can imo be made in things like useless innovation (has it worked so far?), education (why do teachers get paid for the whole lesson, while the kids dont do anything in the second half - aren't they better off with less unnecessary time at school and more free time? Why are expensive whiteboards bought when a chalk board works fine?), healthcare, and things like pensions (why are the richest people given free money, most don't even need it). Link to post Share on other sites More sharing options...
hmm 979 Posted December 7, 2014 Share Posted December 7, 2014 Is this supposed to be shade at Germany or something? Link to post Share on other sites More sharing options...
Mr Josh 3 Posted December 7, 2014 Share Posted December 7, 2014 The IMF realized that 8 years too late. Link to post Share on other sites More sharing options...
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