Reading Part II of The Body Economics, I found Iceland’s situation to be particularly fascinating. As a native of the United States, it is difficult to imagine a civilian protest on the same scale as those that occurred in Iceland over the IMF-proposed plan. As stated in the reading, the Icelandic protests would equate to ten million people in the US gathering together in Washington, D.C.; this would be virtually impossible. It is also crazy to imagine the US government responding to protest the way the Icelandic government did. While it may be risky to allow a country’s entire population to vote democratically on an issue as vital as economic policy, I cannot think of a better way to represent the needs of everyone–not just those high up on the socioeconomic ladder. It is absurd that the whole population should have to pay for the mistakes made by the upper class. Iceland clearly made the right call, given the It would be wise for those opposed to deficit spending in times of economic recession–such as Iceland’s wealthy investors–to take another look and see that you not only have to spend money to make money, but to keep your population healthy and productive.
Uncategorized
25
Apr 14
Greece and Iceland in The Body Economic
In the final reading of Body Economic, I was startled by the political and economic ways of Iceland and Greece. These two countries underwent similar sufferings and downturns, yet chose entirely different paths for the so called ‘recovery’ of their citizens and economy. Iceland chose to not cut welfare and other public funding, despite the IMF’s ideas otherwise. They knew that without the health and well being of their people, the economy would not pick up. This seems to be something the United States has yet to understand. Without a strong and steady undercurrent of trust and well being among citizens, where can our fiscal crisis disappear to? If citizens are not well and do not feel collectively protected in times of need, there is no reason or ability to function economically. I found this concept incredibly basic, yet it seems to be something that our political agenda constantly glazes over. It is often the ‘rich and elite’ who are able to decide the fate of all others, for better or worse. However, it seems obvious to me that we should follow suit along with Iceland and enjoy the comforts of a more healthy and balanced population.
Annaliisa Gifford
11
Apr 14
Why Austerity Kills
In the reading for today, The Body Economic: Why Austerity Kills, I was fascinated and moved by a few different concepts. I have always, politically, had the same inkling that welfare is directly necessary for the health of our society. However, I didn’t realize the extent to which this was the case. This article woke me up in a certain way. I knew that many people became overwhelmingly depressed when faced with joblessness or lack of economy. Yet the rates on suicide following a change in economic activity was by all means terrifying. If we can visibly see this correlation, it seems necessary to me (and humane) to bring about the New Deal’s of this generation in order to give hope and peace to those who are struggling. And it seems very possible that through these actions, we’d see a bottom down revitalizing effect. People who were previously on welfare or unemployment could hopefully be presented with new job opportunities.
These steps towards a working America would clearly lower the suicide rate and provide citizens with a sense of meaning and personal choice.
