Firstly, many periods of austerity saw little or no real cost reductions whatsoever.
These are tough times for public figures – especially politicians adrift in an age of austerity – and little wonder they cling to this personification of goodness.
It said the OECD became better at factoring in the impact of austerity amid little space for further monetary loosening as the crisis continued.
But faced with a choice between tax cuts for the big guys or fiscal austerity, the little guys may well decide stay home.
The policies put in place so far, such as budgetary austerity, are little match for the size of the problem, they argue, and may make things worse.Instead, governments should take stronger action, much as rich economies did in past crises up to and including the immediate aftermath of the second world war and as, more recently, developing countries have done.
I assume that it is the advent of this cultural oddity that account for the allegations of 'cosy frugality' levelled at food blogger Jack Monroe this week; a commentator must have assumed that this well-spoken grammar school girl had simply taken the fetishisation of post-war austerity a little too far.
"The era of austerity shows little sign of abating and more and more people need our help.
His main quibble with the current set of European leaders was that, amid the austerity, very little thought was being given to making the positive case for the EU.
This was an echo of the ancient legend, although this time the mortals accused their leaders of stealing money and imposing such austerity that little meat can grace Grecian tables.
"Like so many others, I said all politicians are the same, discussed austerity a little, but nothing more.
