While the language of austerity isn’t widely used to talk about the U.S., the New York Times has framed the political developments in Europe around the debate between stimulus and austerity: PARIS — Hours after voters in France and Greece delivered sharp rebuttals to advocates of austerity as the antidote to Europe’s financial crisis, Chancellor […]
A beautiful photographic essay about austerity in Greece, where unemployment has reached 21.8%, and over 50% for those under 25. Portraits of Greece in Crisis – In Focus – The Atlantic.
A professor from the Chicago School has a column on the New York Times’ Economix blog describing his thoughts on austerity versus stimulus. I use the word “thoughts” deliberately, because this isn’t an article about evidence. It contrasts growth and redistribution, which is a common framework of those who believe austerity is the only way […]
I don’t like this conclusion. I start from the belief that government should run surpluses in good times so that they can have some fiscal lee-way for stimulus in bad times. Readers know I deeply oppose government debt outside of structural investment, i.e. unsustainable entitlements and unsustainable empire. But if premature or excessive austerity actually […]
The Times seems to have a reporter on the European austerity beat. The article is a story out of a Mike Leigh film: As Britain shaves public services and benefits, advocates contend that women bear more than their fair share of the pain. “The idea that what we should be doing is rolling back the […]