HBL is an email list discussing Ayn Rand's philosophy, Objectivism, and its application to today's culture.
HBL's moderator and regular contributor is Harry Binswanger, a philosophy professor and associate of the late Ayn Rand.
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There has been no general European spending reductions, just tax increases, which is what "austerity" means in practice. For example, Britain:
Every year, more spending, with the possible exception of a slight drop this current year. Tax rates have continued to climb, though tax receipts have not increased very much, as most of Europe is beyond the Laffer maximum. Other European countries are similar, except Greece, where there have been actual spending reductions, though fairly modest compared to the direness of their situation.
Recent posts by Harry Binswanger:
-- Prior posts by HB --