The idea that we're going to austerity ourselves into prosperity

Hear the words of Alexandria Ocasio-Cortez, spoken in the fires of political struggle: “The idea that we’re going to austerity ourselves into prosperity is so mistaken, and honestly, I feel like one of the big problems we have is that, because Democrats don’t have a deep understanding of or degrees in economics, they allow Wall Street folks to roll in the door and think that they’re giving them an education.” These words, though born in modern debate, ring with an ancient wisdom: that false remedies offered in times of hardship are more dangerous than the hardship itself, and that those who mistake the counsel of the powerful for true knowledge will lead their people astray.

For what is austerity but the cutting away of resources in the name of discipline, the starving of the body in hopes that hunger itself will bring strength? Yet history teaches that no nation ever grew fat on famine, nor built strength by cutting away its sinews. To believe that suffering alone breeds prosperity is to worship a cruel illusion. Prosperity is built by investment, by creation, by nurturing the soil until it brings forth fruit—not by tearing up the roots in the name of sacrifice.

Ocasio-Cortez speaks also of the danger of misplaced education. When leaders lack true understanding of economics, they may fall prey to the smooth words of financiers, who come cloaked as teachers but carry their own interests close to their hearts. These are not educators in the service of the people, but merchants of influence, shaping policy not for the common good, but for the preservation of their wealth. Thus, the ignorance of rulers becomes the weapon of the powerful, and the people pay the price.

History itself provides witness. Consider the Great Depression of the 1930s. Many nations at first embraced austerity, slashing spending and wages in the belief that hardship would correct itself. Instead, economies sank deeper, and people starved. But in America, Franklin Roosevelt turned away from austerity and launched the New Deal, investing in public works, jobs, and relief. By building rather than cutting, he planted the seeds of recovery. His story proves the wisdom of Ocasio-Cortez’s warning: that prosperity comes not from contraction, but from renewal.

Yet the temptation of austerity has returned again and again. After the financial crisis of 2008, many European nations turned to sharp cuts, only to see unemployment soar and growth wither. Those who embraced investment and protection fared better. The lesson is clear: economics is not merely numbers on a ledger, but the lifeblood of society. If leaders entrust its care to those who profit from scarcity, the people will be drained dry. But if they guide it with wisdom, the nation can be restored.

The deeper truth in this saying is that education itself must be freed from the grip of the powerful. True education enlightens, liberates, and equips rulers to serve the people wisely. False education flatters, deceives, and persuades leaders to serve the few at the expense of the many. Thus, Ocasio-Cortez warns her own party, and indeed all who govern, that to be ignorant of economics is not a small failing—it is an opening through which power flows into the hands of those who would misuse it.

Therefore, O listener, take this teaching to heart. Do not be content with shallow understanding. Whether you lead a family, a community, or a nation, seek the wisdom behind the words of the powerful. Ask always: who profits from this teaching? Who gains from this sacrifice? Do not mistake austerity for virtue, nor the words of the wealthy for true education. Train your mind, and demand that your leaders train theirs, so that knowledge may serve the people and not enslave them.

For as Ocasio-Cortez declared, to believe that austerity leads to prosperity is folly. True prosperity arises from investment in people, from the strength of shared opportunity, and from leaders armed not with borrowed words but with genuine wisdom. Let your education be deep, your judgment clear, and your courage steadfast, so that the errors of the past may not be repeated, and the future may be brighter for all.