Austerity

Constitution-burning-teaser

Latest News Events Suggest U.S. Constitution a Dead Letter

February 2015 did not just feature bitter cold in the eastern half of the U.S., but was a news-laden month that provided a window on a large number of our contemporary social, political, and cultural troubles. Heading the list was the continuing saga of big and increasingly threatening government in the Age of Obama. Early [...]

“Talibans of Austerity”

A sentence in the French newspaper Le Monde recently caught my eye: Il y aura toujours des talibans de l’austérité, there will always be the Talibans of austerity. It was uttered by the economist Jean Pisani-Ferry in an interview in the newspaper about the crisis in the Euro zone, and it made me think at [...]

Britain, “Austerity,” and the Lessons of Economic History

Economists and pundits alike are going wild over the United Kingdom’s recent “double dip” recession. The 2008-09 recession prompted the election of a conservative coalition led by Prime Minister David Cameron. Cameron decided the best path for economic recovery was “austerity,” a program of reduced government spending and smaller government debt. The new coalition—with the [...]

Greek Youth Getting Back to Basics

A couple of weeks ago a retired Greek pharmacist shot himself outside the country’s parliament in protest at austerity measures that include major cuts to pensions. But alongside this story of despairing protest comes news of youths who are adapting to their country’s plight by getting back to basics. Applications to the American Farm School [...]

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