> it'll suck initially, but it'll improve outcomes everywhere else, and that should outweigh the effects of reduced government spending before too long.
There's no rational beyond blind faith here. Inflation will eventually stop, most likely, but thinking that “because of the sacrifice, things will go better in the end” is just magical thinking.
The economy doesn't give a shit about morality, and Germans are paying the price of this belief at this very moment: they put their moral take about debt (“Schuld”, which also means “guilt”) in their Constitution in 2009 and now they are stuck in a recession with no end in sight because the government cannot support their economy, and they also bullied the whole Europe into reducing their debt during the 2010s, which lead to catatonic growth level in the EU for a decade.
When economics policies are decided on a moral basis with religious-inspired arguments it leads to disaster (and it's true no matter what moral values are driving it: Mao starved his population for the exact same reason, even though the moral values that inspired his policies weren't the same).
