The Politics of Austerity

I hate to sound like a broken record here, but I believe the anti-austerians have it all wrong about the politics of austerity in Europe. Everywhere I look, there is some analysis that takes the statements of policy makers and big investors as evidence that we are seeing a paradigm shift away from austerity. Don't believe it. It isn't true. The only thing we are seeing is the move from front-loaded to back-loaded austerity. It is an attempt to meet the facts on the ground within the existing eco...

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