there is no analysis whatsoever how austerity would help reindustrialization. in all probability it will have the opposite effect, ie. anemic (or no) growth and further financialization of the economy as finance is the only "industry" that stands to gain from a faltering economy.
@jakiner Ive read quite a lot of his papers (and his coleeagues' (eg. Dean Baker) papers at CEPR), and, yes, that's what WEisbrot was (and is) calling for. More spending on infratructure projects, employment programs etc.
Though you're right that in this particular interview he's not very good at...
profi volt!! gratulálok.
bátor,igaz emberek a tiltakozók.