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Besparingsdogma’s overheid gaan ons begrip te boven

Frank Roels (UGent)
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Organization
Abstract
The Belgian economy is in recession since 2013; the Eurozone already since 6 quarters. The European Commission requires that Belgium realizes an additional reduction of government spending, for 4,5 billion over 2013-14. Moreover, the European Budgetary Treaty which is now being approved by parliaments, will impose a reduction of 7,78 billion/y over 20 years. Paul Krugman and Paul De Grauwe explain why austerity during a recession lowers GNP, and thus prolongs the deficit. In de US, UK, Japan, central banks support government lending, and favor growth. In contrast the ECB was very late in bying government bonds (from banks), and the Troika imposed very severe austerity, which in Southern Europe had led to a social disaster and lowering of GNP. Arguments in favor of austerity are discussed; some are more ideology than economic. Looking for an explanation, I propose that the main goal of the financial en corporate world and their economists, is not reduction of unemployment, even not growth, but preservation of net profit. This is effectively reached by massive layoffs and increased productivity.
Keywords
Jens Weidmann, Marianne Thyssen, Mario Draghi, unemployment, poverty, IMF

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Citation

Please use this url to cite or link to this publication:

MLA
Roels, Frank. “Besparingsdogma’s Overheid Gaan Ons Begrip Te Boven.” DEWERELDMORGEN.BE, no. 3 juni, 2013.
APA
Roels, F. (2013). Besparingsdogma’s overheid gaan ons begrip te boven. DEWERELDMORGEN.BE.
Chicago author-date
Roels, Frank. 2013. “Besparingsdogma’s Overheid Gaan Ons Begrip Te Boven.” DEWERELDMORGEN.BE.
Chicago author-date (all authors)
Roels, Frank. 2013. “Besparingsdogma’s Overheid Gaan Ons Begrip Te Boven.” DEWERELDMORGEN.BE.
Vancouver
1.
Roels F. Besparingsdogma’s overheid gaan ons begrip te boven. DEWERELDMORGEN.BE. 2013.
IEEE
[1]
F. Roels, “Besparingsdogma’s overheid gaan ons begrip te boven,” DEWERELDMORGEN.BE, no. 3 juni. 2013.
@misc{3236366,
  abstract     = {The Belgian economy is in recession since 2013; the Eurozone already since 6 quarters. The European Commission requires that Belgium realizes an additional reduction of government spending, for 4,5 billion over 2013-14. Moreover, the European Budgetary Treaty which is now being approved by parliaments, will impose a reduction of 7,78 billion/y over 20 years. Paul Krugman and Paul De Grauwe explain why austerity during a recession lowers GNP, and thus prolongs the deficit. In de US, UK, Japan, central banks support government lending, and favor growth. In contrast the ECB was very late in bying government bonds (from banks), and the Troika imposed very severe austerity, which in Southern Europe had led to a social disaster and lowering of GNP. Arguments in favor of austerity are discussed; some are more ideology than economic. Looking for an explanation, I propose that the main goal of the financial en corporate world and their economists, is not reduction of unemployment, even not growth, but preservation of net profit. This is effectively reached by massive layoffs and increased productivity.},
  author       = {Roels, Frank},
  keywords     = {Jens Weidmann,Marianne Thyssen,Mario Draghi,unemployment,poverty,IMF},
  language     = {dut},
  number       = {3 juni},
  pages        = {5},
  series       = {DEWERELDMORGEN.BE},
  title        = {Besparingsdogma’s overheid gaan ons begrip te boven},
  url          = {https://www.dewereldmorgen.be/artikel/2013/06/03/besparingsdogma%C2%92s-overheid-gaan-ons-begrip-te-boven/},
  year         = {2013},
}