I found Part I of Stuckler and Basu’s The Body Economic: Why Austerity Kills to be clear, informative and interesting. At its core lay several important ideas that I had never heard before, and if I did, I had not properly understood them. For example, the idea that public health does not have to suffer even though the economy is suffering- if a government chooses to continue or increase spending on public health, its people will be better cared for and the economy can bounce back. What helped me understand this concept the was the authors’ distinction between personal debt and government debt. When I hear the word “debt”, I assume that the most important and effective course of action would be one that decreases spending immediately, in an effort to build up savings and avoid slipping further into debt. But the economist understands that there is a fundamental difference between government debt and personal debt, and that spending on social projects is essential in protecting the people during an economic crisis. “What the Great Depression shows us is that even the worst economic catastrophe need not cause people’s health to suffer, if politicians take the right steps to protect people’s health.”
Privacy Overview
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.