The Logic of Austerity
October 10, 2026
It’s time to stop buying into the idea that, within a capitalist society, it makes sense to discuss economic policies according to the criterion of “right” and “wrong” for an elusive common good. Our economic machinery is structured not to meet the needs of ordinary people but to increase the rents and profits of the few capital holders. Economic policies cater to these priorities. What critics point to as “problems” of the system—poverty, inequality, and unemployment—are actually its precise “solutions.”