‘These cuts are driven by dogma not by sound economics.’

Posted on | May 24, 2010 | from a great blog 'No Shock Doctrine for Britin'

Top economist David Blanchflower described the announcement of £6.2 billion of cuts as ‘a dreadful day for British people’ – and said they are ‘driven by dogma not by sound economics.’

Unlike most economists, David Blanchflower – a former member of the Monetary Policy Committee – actually predicted this recession, and called for measures which would have helped prevent it.

He’s not alone. Bill Clinton’s chief economist (and Nobel Winner) Joseph Stiglitz, recently said: “the economics is clear: reducing government spending is a risk not worth taking.”

David Laws and his Tory friends have always wanted to dismantle much of the welfare state. And now they are relishing an opportunity to do so.