Statistical errors, moral arguments, confidence fairy, blurry causal relationship, Keynesian policies and an italian economist. A History of Austerity, the protagonist of Europe by Robert Skidelsky. Go to the article.
The thing we would typically worry about with high deficits, namely high interest rates, is not happening. Interest rates are actually negative (“it means markets are so nervous that they will literally pay us… Continue reading
Finally, the International Monetary Fund admits: we failed to realise the damage austerity would do to Greece. The IMF had originally predicted Greek economy would contract by just 5.5% between 2009 and 2012 but… Continue reading
Does austerity improve morale? According to people such as the British Prime Minister David Cameron, or the US congressman Paul Ryan, the answer is yes. They claim that austerity measures reduce welfare dependency… Continue reading
Source: Presseurop. Austerity and free market regulations have created a band of loyal followers: The Precarious. And they are threatening the jewel European civilization, social security, argues Belgian writer Geert Van Istandael. Go… Continue reading
A graph published by the Guardian depicting youth unemployment in Europe.