Guilherme Klein Martins (to few people's surprise, surely) argues that austerity has a longer shadow than economists predicted:
Austerity is not a precursor to long-term prosperity - its costs outweigh any proposed benefits;
Its shock/sudden fiscal adjustments are damaging in themselves;
Long-term growth is a lot more important than short-term deficit reduction for future prosperity.
None of this is necessarily news, but its worth reiterating!
#austerity #economics
https://theconversation.com/in-the-struggle-to-get-britain-working-the-long-shadow-of-austerity-could-be-part-of-the-problem-249888
Austerity is not a precursor to long-term prosperity - its costs outweigh any proposed benefits;
Its shock/sudden fiscal adjustments are damaging in themselves;
Long-term growth is a lot more important than short-term deficit reduction for future prosperity.
None of this is necessarily news, but its worth reiterating!
#austerity #economics
https://theconversation.com/in-the-struggle-to-get-britain-working-the-long-shadow-of-austerity-could-be-part-of-the-problem-249888
In the struggle to get Britain working, the long shadow of austerity could be part of the problem
Recent research shows labour markets are slower to bounce back from the effects of austerity than economists previously assumed.The Conversation
