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jerryking : austerity   40

Why this economist thinks government intervention is a good thing - The Globe and Mail
The Globe and Mail
Published Monday, Nov. 28, 2016

Many governments are moving away from austerity and toward stimulating economic growth by spending on infrastructure projects. Is that the right approach?

This is not about the panacea of infrastructure. It’s ridiculous if you think about it. All these smart, smart people in the IMF—once they finally admit that austerity was shit and it was very damaging, what’s their solution? Infrastructure. (3) These people have PhDs. Can they not come up with something more interesting than spend a bunch on bridges and roads?

What do you think about Brexit?

A massive, massive disaster. I just can’t believe that the people who engineered it haven’t been put in prison. It’s so obvious now that they were lying. Think of it: If Coca-Cola lied with advertising campaigns like that, they’d be in prison. All these civil servants are going to be spending decades unravelling something that was not the problem. The real problem in the U.K. is low productivity, very high inequality and a lack of serious planning around industrial and innovation policy. That had nothing to do with Europe. Brexit is just going to take away huge amounts of government resources that could have been spent thinking about what it really means to increase productivity. As well, it just really makes things complicated.
Paul_Waldie  economists  Brexit  industrial_policies  innovation_policies  innovation  iPhone  Mariana_Mazzucato  infrastructure  austerity  government_intervention  PhDs  IMF  productivity  income_inequality 
december 2016 by jerryking
Quebec students get a lesson in austerity - The Globe and Mail
The Globe and Mail
Published Monday, Mar. 30 2015

Any society would be in big trouble if its students, out of fear or complacency, did not protest. Challenging the existing order is a rite of adulthood and an initiation into democracy. Social change often starts on campuses, those righteous repositories of the social conscience of a nation.
Konrad_Yakabuski  Quebec  Colleges_&_Universities  austerity 
april 2015 by jerryking
Anti-austerity looks less cartoonish by the day - The Globe and Mail
The Globe and Mail
Published Saturday, Jan. 31 2015

Greece has overwhelmingly elected a government run by the left-wing, anti-austerity coalition Syriza. New Prime Minister Alexis Tsipras tellingly described the country’s bailout program, which directs the devastated Greek economy entirely toward debt repayment at any cost, as “fiscal waterboarding” and said he will demand a writedown of the debt.
Greece  elections  austerity  Doug_Saunders  Greek  stimulus  debt  debt_foregiveness  structural_change 
february 2015 by jerryking
In the push to get back to black, don’t ignore the economy - The Globe and Mail
Jan. 19 2015 | The Globe and Mail | KONRAD YAKABUSKI.

Rather than worrying about whether Ottawa will be slightly in the red or slightly in the black over the next few years, the questions Canadians should be asking are the following: Is a smaller federal government good for the country if it means reduced services and the gutting of federal institutions? And do the Tories have an economic action plan that does not rely on a global commodities supercycle to underwrite growth?
cutbacks  Konrad_Yakabuski  Jim_Flaherty  Ottawa  public_sector  policy  budgets  Joe_Oliver  commodities_supercycle  austerity 
january 2015 by jerryking
As Slump Hits Home, Cities Downsize Their Ambitions -
December 26, 2009 | WSJ | By CONOR DOUGHERTY.

A national tally isn't yet available, but state tax collections fell 11% across 44 states in the third quarter of 2009, from the same period a year ago, according to a report by the Nelson A. Rockefeller Institute of Government at the State University of New York. In a recent survey by the National League of Cities, 88% of city budget officers said they were less able to meet their financial needs than they were a year ago.
[job engines]

The specter of lean budgets for years ahead has some of the nation's 89,000 local governments rethinking what services to provide and how to pay for them.
cities  cutbacks  austerity 
june 2012 by jerryking
Jeffrey Simpson - The Globe and Mail

From Friday's Globe and Mail

Last updated Friday, May. 25, 2012
austerity  Colleges_&_Universities  students  cutbacks  Quebec  Jeffrey_Simpson 
may 2012 by jerryking
Op-Ed Contributor - Four Deformations of the Apocalypse -
Four Deformations of the Apocalypse
Published: July 31, 2010
David_Stockman  GOP  op-ed  Milton_Friedman  austerity  apocalypses 
may 2012 by jerryking
The Age of Austerity Hits Apps -
FEBRUARY 29, 2012, 1:51 P.M. ET
The Age of Austerity Hits Apps Business

mobile_applications  austerity 
february 2012 by jerryking
Portugal begs former colony Angola for a bailout.
For Sale: Europe Begs Its Former Vassals for a Bailout

By Michael Moran

| Posted Wednesday, Nov. 23, 2011,
BRIC  Europe  austerity  cutbacks  debt  Portugal  Angola 
november 2011 by jerryking
Stimulus. Austerity. We can have both - The Globe and Mail
kevin lynch
From Tuesday's Globe and Mail
Published Tuesday, Nov. 01, 2011
Kevin_Lynch  austerity  economic_stimulus 
november 2011 by jerryking
Report proposes $17-million in cuts for libraries -
Oct. 13, 2011 | The Globe and Mail | elizabeth church AND patrick wh

Less than a month after Toronto city council spared library branches from the chopping block, more than $17-million in cuts are on the table, including reduced Sunday openings, fewer weekday hours, less spending on collections and the elimination 100 full-time jobs.

The money-saving measures are in a report by Toronto’s head librarian in response to a demand for a 10-per-cent reduction in all city operations for next year. The report will be considered next week at the first meeting of the library board since the appointment of eight new members. It stops short of recommending all the cuts, instead proposing the board back $9.7-million in savings, or about 5.7 per cent of the amount requested.
More related to this story

Margaret Atwood's inspiring defence of Toronto’s libraries
Maybe city shouldn’t bear lion’s share of zoo costs
Backlash over Toronto library cuts gives Fords ‘pause for thought,’ Margaret Atwood says

To meet the 10-per-cent target, the chief librarian says in the report that the board would have to consider an additional $7.3-million in added belt-tightening, which would include eliminating Sunday service at eight branches, and summer closings at the remaining 19.
libraries  cutbacks  austerity  Toronto  Elizabeth_Church  budgets 
october 2011 by jerryking
Needed: the political will to subtract
Oct. 08, 2011 | The Globe and Mail | JEFFREY SIMPSON
" exercises – outside experts to advise on internal cuts – will all fail without the fundamental political will to do the most difficult thing in government: eliminate or curtail existing programs.

Private-sector enterprises constantly monitor themselves for efficiencies, redundancies and programs that have outlived their usefulness. In the public sector, however, this kind of search is episodic, if it happens at all.

Governments, except in isolated cases, are in the business of adding, not subtracting, programs. They puncture the tax system with credits and other forms of tax expenditures; they add new spending programs, or enrich existing ones. These new policies are sometimes vital, but the instinct to pay for them by making hard choices elsewhere is seldom apparent.

Around these tax expenditures or programs are grafted people and organizations that benefit from them. The exercise of government discretion then becomes an entitlement in the eyes of the beneficiaries, and entitlements, in turn, become so entrenched they’re difficult to end or curtail."
Jeffrey_Simpson  austerity  cutbacks  decision_making  politicians  willpower  public_sector  political_will  entitlements 
october 2011 by jerryking
Spare arts grants from the cleaver - The Globe and Mail
Globe and Mail
Published Sunday, Sep. 18, 2011 10:00PM EDT
Last updated Monday, Sep. 19
austerity  Toronto  grants  cutbacks  editorials 
september 2011 by jerryking
Toronto takes tough service cuts off the table after all-night meeting - The Globe and Mail
adrian morrow AND elizabeth church
Globe and Mail Update
Published Monday, Sep. 19, 2011
cutbacks  austerity  Toronto  Rob_Ford  budgets 
september 2011 by jerryking
Ford distractions are making Toronto’s spending cuts more difficult -
Sep. 19, 2011| The Globe and Mail.
So let’s have a thoughtful conversation about what we value. Let’s
preserve programs of demonstrable excellence or essentially connected to
our productivity, to the protection of the most vulnerable, or to the
smooth functioning of the city. And let’s start naming the surplus –
whether it’s surplus city property like theatres and zoos, or surplus
labour contracts – as candidates for reduction.

If Rob Ford does manage to end some wasteful spending, and reduce the
city’s dependency on public sector workers, then we will owe him our
gratitude. But at this point, he is not showing the leadership required
to get the job done.
cutbacks  austerity  Toronto  Rob_Ford  editorials 
september 2011 by jerryking
Modern citizens know a library’s worth
Aug. 30, 2011 | Globe &Mail | VINCENT LAM. There are two
priceless features of each of the 18 million annual library visits in
this city. First, sharing wisdom through the library & its programs
increases the wealth of our community. We learn, innovate and enrich our
city by sharing knowledge through books, films, lectures and
discussion. Second, the library is completely democratic. It provides
access to information, culture &leisure for new immigrants and
established Canadians, to children and the elderly, and to all
Torontonians whether they’re rich or going through tough times.

Speaking of tough times, in which we’re told that all belts must
tighten: Such are the precise times in which those with less disposable
income need access to good libraries more than ever. Those who can’t buy
books need to access the library’s collections, not to see acquisitions
or library hours cut. The destruction of the ancient Library of
Alexandria is one of the intellectual tragedies of antiquity.
civics  citizenship  libraries  Toronto  Rob_Ford  cutbacks  hard_times  austerity  TPL  social_fabric  commonwealth  institutions  engaged_citizenry 
september 2011 by jerryking
When Schools Depend on Handouts -
August 25, 2011

Public education was built on the philosophy articulated by Horace Mann,
the Massachusetts reformer who pioneered the Common School: a system
“one and the same for both rich and poor” with “all citizens on the same
footing of equality before the law of land.” Today, that vision of
equality is in jeopardy....At least 23 states have made huge cuts to
public education spending this year, and school districts are scrambling
to find ways to cope. School foundations, parent-teacher organizations
and local education funds supported by business groups and residents
contribute at least $4 billion per year to help public schools
throughout the country....Although praiseworthy as a matter of personal
philanthropy, [donations by the mayor & others] is highly
distressing as a matter of public policy. It is disgraceful that
essential components of the public education system are now depend on
the charitable impulses of wealthy citizens.
austerity  cutbacks  equality_of_opportunity  handouts  Horace_Mann  philanthropy  public_education  public_schools  public_policy  school_districts 
august 2011 by jerryking
Business Braces for Belt Tightening -

Business Braces for Belt Tightening
Lower Government Spending Could Ripple Across Industries; Create
Opportunities for Some; Say Goodbye to 'Uncle Sugar'. The Wall Street
Journal took a deeper look at what companies are most exposed to
rollbacks in government spending. The findings are below:
austerity  business_development  creating_opportunities  cutbacks  defense  education  diversification  healthcare  technology 
august 2011 by jerryking
Margaret Atwood tweets to keep libraries open - The Globe and Mail
From Tuesday's Globe and Mail
Published Monday, Jul. 25, 2011 11:04PM EDT
Last updated Tuesday, Jul. 26, 2011
austerity  cutbacks  libraries  Toronto  Elizabeth_Church 
july 2011 by jerryking
The New Normal -
February 28, 2011 | NYT | By DAVID BROOKS. The U.S. is going
to be doing a lot of deficit cutting over the next several years. The
country’s future greatness will be shaped by whether those cuts are made
wisely or stupidly. Brooks proffers the following principles to guide
the cuts.
#1. Make Everybody Hurt. The sacrifice should be spread widely and
#2. Make Conscious Tradeoffs. Trim from the old to invest in the young. We should adjust pension
promises and reduce the amount of $ spent on health care during the last
months of life so we can preserve programs for those who are growing
and learning the most.
# 3. Never cut without an evaluation process. Before legislators and
governors chop a section of the budget, they should make a list of all
the relevant programs, grading each option and then start paying for
them from the top down.
cutbacks  deficits  effectiveness  fairness  Octothorpe_Software  David_Brooks  municipalities  decision_making  austerity  sacrifice  new_normal  tradeoffs  priorities  assessments_&_evaluations 
march 2011 by jerryking
Americans struggle to adjust to new culture of ‘no’ - The Globe and Mail
From Friday's Globe and Mail. Weakly reasoned column. Nov 25, 2010 6:11PM EST

A perennially optimistic nation is finding it difficult to rise above its woes
austerity  Chrystia_Freeland  cutbacks 
december 2010 by jerryking
Op-Ed Columnist - Superbroke, Superfrugal, Superpower? -
September 4, 2010 ! NYT ! By Tom FRIEDMAN. Builds on the
message contained in “The Frugal Superpower: America’s Global Leadership
in a Cash-Strapped Era” a very timely book by Michael Mandelbaum. How
to mitigate this trend? Mandelbaum argues for 3 things: (1) we need to
get ourselves back on a sustainable path to economic growth and
reindustrialization, with whatever sacrifices, hard work and political
consensus that requires. (2), we need to set priorities. We have enjoyed
a century in which we could have, in foreign policy terms, both what is
vital and what is desirable. e.g. with infinite men & money we can
succeed in Afghanistan. But is it vital? it may be desirable, but
vital? (3), we need to shore up our balance sheet and weaken that of our
enemies, and the best way to do that in one move is with a much higher
gasoline tax. ..There was a time when thinking seriously about U.S.
foreign policy did not require thinking seriously about economic policy.
That time is also over.
Tom_Friedman  U.S.foreign_policy  imperial_overstretch  cash-strapped  geopolitics  austerity  economic_policy  priorities  sacrifice  reindustrialization  frugality  superpowers  hard_work 
september 2010 by jerryking
Facing Budget Gaps, Cities Sell Parking, Airports, Zoos, Other Assets -
AUGUST 23, 2010 | Wall Street Journal | By IANTHE JEANNE DUGAN.

The privatization trend is being spurred by a cottage industry of consultants, lawyers and bankers. Allen & Overy, a New York law firm, dubs it "rescue investing" and recently provided investors a booklet on "jurisdictions of opportunity"—municipalities whose laws, budget woes and credit ratings make them most likely to make deals [jk: unexploited_resources ].

"More public-private partnerships for public infrastructure in the U.S. have reached commercial and financial close than during any comparable period in U.S. history," the booklet says.
airports  assets  austerity  cities  cottage_industries  cutbacks  deal-making  dealmakers  divestitures  entrepreneurial  fallen_angels  infrastructure  investors  law_firms  lawyers  municipalities  opportunities  opportunistic  parking_lots  pitches  PPP  privatization  prospectuses  rescue_investing  unexploited_resources  vulture_investing 
august 2010 by jerryking
Cloud computing for lean local governments
May. 12, 2010 | The Globe and Mail | by Shawna Richer.

BasicGov sells software as a service (SaaS) and manages the business of running a community by writing software that resides on the Internet. Today 33 communities - 31 in the United States and two in Canada, Dryden, Ont., and Red Deer, Alta. - have signed on.

Governments lease access to the servers and software - up to five modules covering permits, planning, enforcement, inspections and licences, and a public portal. One user with one module pays $119 per month. Bulk pricing is available for larger clients.

Cloud computing is the future, and everyone from Apple to Google to Microsoft is betting that mainframe servers and physical software will eventually become a thing of the past.

The cloud is the Internet and users can access software that is stored on remote servers around the world on demand. Gmail is a common form of cloud computing.
cloud_computing  municipalities  local  SaaS  austerity  cutbacks  cities  Salesforce 
june 2010 by jerryking
Op-Ed Columnist - Root Canal Politics -
May 8, 2010 | New York Times | By THOMAS L. FRIEDMAN. Linking
the British election, the Greek meltdown and our own Tea Party, Friedman
argues that the Greatest Generations' legacy of "abundance" is being
systematically eroded by Baby Boomers. After 65 years in which politics
in the West was, mostly, about giving things away to voters, it’s now
going to be, mostly, about taking things away--what he calls "Root Canal
The_Greatest_Generation  baby_boomers  Tom_Friedman  austerity  cutbacks 
may 2010 by jerryking
"A New Economic Reality"
May-June 2009 | | Harvard Magazine. Discusses the university's
financial gap and its ramifications. As world financial and economic
conditions have progressively deteriorated, “Our strong sense is that an
eventual recovery will take longer, and that we must therefore begin to
accommodate a new economic reality for the University.”
endowments  economic_downturn  implications  Harvard  austerity 
may 2009 by jerryking

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