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Technology & Innovation

Britain Cuts, America Spends

Which will prove better: austerity or deficit spending? The respective approaches taken by Britain and America to recover the economy may prove a useful historical experiment.

“American conservatives complain about government spending and then they continue to expand government (see: Reagan defense spending, Bush II). British conservatives complain about government spending and then they actually slash spending (see: this plan to eliminate half a million government jobs in four years). … Let us praise David Cameron for having the courage of his convictions, but are those convictions any good? Does it make sense for Great Britain to pursue aggressive austerity at a time when interest rates are this low? … First, this provides something historically unique: an international comparison between similarly sick economies trying to cure themselves with opposite treatments.”

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