[wfo]

Well sure, it seems dubious if you frame it chronologically like that but that's not necessarily how it happened. "The idea that the solution to the core problem of X just happens to be the prescriptions of Y" is exactly the case whenever Y is purposefully and intentionally constructed to solve the problem X.

Who's to say social democratic policies (i.e. Sanders, FDR) don't usually arise in response to the toxic populism that austerity creates because they (anti-austerity) are the natural cure? Isn't that the story behind the new deal?

Is it so hard to believe that creating an entire generation of people who will have negative net worth until they are 40 fosters resentment?

[tptacek]

That's a tautological argument. No good-faith participant in public policy debates aims to push whole generations into debt; they simply disagree about the best way to avoid that outcome.

I don't doubt that people who believe in single payer and subsidized tuition do so because they think it's the best way to keep generations out of debt. It would be weird for them to think otherwise.

What I'm doubting is that they can evoke public policy outcomes from the 1930s as a natural experiment proving that those are the best policy interventions. I think that argument assumes a whole variety of facts not really in evidence.

[wfo]

>No good-faith participant in public policy debates aims to push whole generations into debt

I agree, but I don't agree that even a majority of participants in public policy debates are acting in good faith. I think it's possible, but given the results and empirical evidence we have to the contrary you should provide some evidence or argument to back up this extremely controversial claim.

I don't think they actively wish to push generations into debt like mustache-twirling cartoon villains, but I do think they are not particularly concerned with this side effect of their other policy goals which are essentially a massive transfer of wealth and power to the private sector, like, e.g. privatization of the loan industry and education.

>I think that argument assumes a whole variety of facts not really in evidence.

The original argument was made by Blyth, who is a serious academic, not me, and you haven't made any attempt to engage with him at all. The crux of the argument is that "anti-austerity is the cure to the ills of austerity" which is honestly nearly tautological because of its obvious correctness, not because of a flaw in its reasoning. It's natural to look back at similar historical situations, like a gilded age of massive inequality and the destruction of working class power preceding a depression. The only real difference between then and now is that we've chosen to call our depression a recession, and pretended there was a recovery from it instead of creating one.

[didibus]

> No good-faith participant in public policy debates aims to push whole generations into debt; they simply disagree about the best way to avoid that outcome.

I feel there is more disagreement about the outcome itself.

Maybe no one could wish upon others financial debt, but a lot of people question why they'd need to help others achieve financial stability.

The idea that we need to actively find ways to raise the minimum standards of living and create a financial baseline seem to me like leaning on socialist ideas.

The other side can claim that there are winners and there are losers, and that's exactly how things should be. Reward the winners, and motivate the losers to work harder, simply make sure they are allowed to compete.