Raising Taxes and Cutting Social Programs Led to Hitler, Study Says

12/15/2017 - Professor of Economics Christopher Meissner in Newsweek.

A group of economic historians has found that austerity was at least partially responsible for the rise of the Nazi party in 1930s Germany. The warning comes as House Majority Leader Paul Ryan looks to cut welfare programs like Social Security and Medicare in 2018.

“My work is largely inspired by current events,” said Christopher M. Meissner, one of the paper’s authors and an economics professor at University of California Davis. “We’re currently seeing the repercussions of a global financial crisis in several countries coupled with a real unwillingness to engage in expansionary fiscal policy plus increasing polarization and political extremism, which is akin to what was happening in Germany in the 1930s.”

Read the full story in Newsweek.