Chris Dillow on UK austerity:
For years, Marxists have been accused by their opponents of believing in a crude economic determinism. However, it is not so much Marxists who believe this as our rulers. George Osborne described his Budget yesterday as â€œunavoidable.â€Â His stooges have described the measures as â€œnecessary.â€ This is bull. The austerity is not necessary or unavoidable. It is the outcome of a choice, a judgment: should we risk damaging economic growth in order to placate the markets, or should we risk a sell-off in gilts to nurture the recovery?Â By all means argue that the government has made the right choice. But donâ€™t pretend there wasnâ€™t one.