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But hey, we can't do anything about that; we must have austerity, for the sake of the next generation.
But, judging by the evidence that we have, austerity programmes in Europe and elsewhere appear likely to yield disappointing results.
OK, so we're going to demand harsh austerity in the debt-crisis countries; and meanwhile, we're also going to have austerity in the non-debt-crisis countries.
Thus, Ryan Avent is driven to distraction by Tyler Cowen suggesting that it's OK to have austerity now because growth in the third quarter was fairly strong.
Instead, all they show is that if you have austerity policies at the same time that other big expansionary things are happening, the economy may actually expand.
In Europe, too, the costs of capitalism's crisis and corporate bailouts by governments have been shifted onto the general population, where they, too, have "austerity" now.
Similar(43)
And they say Ireland hasn't really had austerity.
Open contributions: How has austerity affected your family?
The first goal, he said, is to avoid having austerity derail economic recovery.
How has austerity worked out for eurozone countries?
How badly has austerity wounded Europe?
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com