I agree, Raghu. And also with your previous comment.

On Sep 24, 2015, at 1:41 PM, raghu <[email protected]> wrote:

> On Thu, Sep 24, 2015 at 12:13 PM, Marvin Gandall <[email protected]> wrote:
> These changes are what underlies the shift of  the political centre of 
> gravity to the right - to subtracting from, rather than adding to, the rights 
> and benefits won in the preceding period by the working class, ie. to 
> austerity.
> 
> 
> Btw, I'd also quibble with this expansive definition of "austerity". I think 
> the term should be reserved for something important and specific: policies of 
> reduced spending on government programs of all kinds, usually combined with 
> low inflation.
> 
> These ideas have been around for a long time of course, but they became 
> fashionable among official policymakers in a specific time period: 
> 2010-present coinciding with the Euro crisis and the Tea party movement in 
> the US.
> -raghu.
> 
> 
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