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Austerity During The Great Depression

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Proponents of austerity are not wrong in theory. If someone is loaned money, the intention is to have that loan payed back.

Arguments for austerity lack plans for a stronger economy as a whole. The people of Greece need to work. They also should not retire early. Working hard is what gave Germany strength. Austerity will not help with the unemployment rate. I compare to Hoover 's actions at the begining of the Great Depression. Hoover was not wrong in saying people just needed to work harder. What he was wrong about is how jobs would be created in order to spur economic growth. The lack of government spending contributed to an even larger economic collapse.

Austerity under current thought would cause a widening gap of wealth. Germany will
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