I don’t fully understand it [the obsession in official circles for austerity]. But a large part of it, it seems obvious, is the intense desire to see economics as a morality play of sin and punishment, where the sinners are, of course, workers and governments, not the bankers. Pain is not an unfortunate consequence of policies, it’s what is supposed to happen.
How obsessive are these people? So obsessive that when the financial doom they predict fails to materialize, they consider this a bad thing...
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