I watched half of it, and thought he was just excellent. I’ll have to check out the rest later.
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In general, the deployment of austerity as economic policy has been as effective in bringing us peace, prosperity, and crucially, a sustained reduction of debt, as the Mongol Golden Horde was in furthering the development of Olympic dressage.”
― Mark Blyth, Austerity: The History of a Dangerous Idea
Aside from France, I was baffled by the puzzle of Sweden and other Nordic states, which are often offered as paragons of the large state “that works”—the government represents a large portion of the total economy. How could we have the happiest nation in the world, Denmark (assuming happiness is both measurable and desirable), and a monstrously large state? Is it that these countries are all smaller than the New York metropolitan area? Until my coauthor, the political scientist Mark Blyth, showed me that there, too, was a false narrative: it was almost the same story as in Switzerland (but with a worse climate and no good ski resorts). The state exists as a tax collector, but the money is spent in the communes themselves, directed by the communes—for, say, skills training locally determined as deemed necessary by the community themselves, to respond to private demand for workers. The economic elites have more freedom than in most other democracies—this is far from the statism one can assume from the outside.”
― Nassim Nicholas Taleb, Antifragile: Things that Gain from Disorder
“…raising the average income tax for the top income percentile to 43.5 percent from 22.4 percent, the level of 2007, would raise revenue by 3 percent of GDP, which is enough to close the US structural deficit while still leaving very high earners with more after-tax income than they would have had under Nixon.”
― Mark Blyth, Austerity: The History of a Dangerous Idea
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