Read all posts from ‘Austerity: Less is More?’

  Whenever I switch on my television or flip through a current affairs magazine, news of the devaluation of the rupee is the inevitable main topic, alongside news of the euro crisis. The euro crisis has shaken us and has made us wonder that if a powerful and unified economy […]

  Russia’s steady growth in GDP and its 5% unemployment rate could make countries like Greece and Spain green with envy. The Russian economy surged ahead from the mid-2000s, seemingly immune to the shocks of the 2008 economic crisis. Foreign corporations kept pumping money into a country whose high levels […]

Abstract: Every time I hear the word “austerity” very concrete memories come to mind. I think of Nicaragua during the Sandinista Revolution of the 80’s, when the government took severe austerity measures in order to tackle the strict economic embargo that the US imposed on the Central American country. These […]

In 2010, the Boc government implemented austerity measures in Romania’s public sector, introducing 25% cuts in salaries and 15% cuts in pensions. Mrs. B. is one of many who was cut to the quick by this move. A high school teacher with over 10 years’ of experience, Mrs. B was […]

  Abstract: In contrast to the calls for austerity made by European governments in recent months, the Brazilian government defends the idea that social and public investment is the way that states can overcome the specter of recession and bankruptcy. In Brazil, this policy has resulted in a program implemented since […]