Budget Surpluses, Privatization, and Liberalization – Wolfgang Streeck

„As the US presidential changeover from Clinton to Bush Jr demonstrated, budget surpluses can serve as a pretext for tax cuts that generate new deficits, which then require further spending cuts to restore the surpluses. The interplay between tax and spending cuts shows that the balancing of budgets in the consolidation state is not pursued for its own sake but, as part of a programme of privatization and liberalization, is intended to bring about a general rollback of the state and its intervention in the market.“

Wolfgang StreeckWolfgang Streeck explains how budget surpluses enable tax cuts and spending cuts to promote privatization and liberalization.
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Wolfgang Streeck is a German sociologist.

This passage analyzes the political economy of budget surpluses and their role in promoting privatization and liberalization in the state.


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Wolfgang Streeck quote about budget surpluses, tax cuts, privatization, and liberalization

Wolfgang Streeck is a German sociologist and emeritus director at the Max Planck Institute for the Study of Societies in Cologne. He has made significant contributions to sociology and social research, and is known for his work on societal and economic issues.

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