Monday, April 29, 2013

'Austerity is the Curse of Our Time'

Political economy professor Stefan Collignon writes: 

Austerity is the curse of our time. Governments cut spending, raise taxes, reduce employment and lower wages in the hope of better times. The consequences are dire. 26 million people are unemployed in the European Union. Youth unemployment is 6 million, in Spain and Greece more than 50 percent. A whole generation is desperately seeking work.

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