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The first austerity period took place during the premierships of David Cameron (R) and Theresa May (L) A UK government budget surplus in 2001-2 was followed by many years of budget deficit, [16] and following the 2008 financial crisis, a period of economic recession began in the country. The first austerity measures were introduced in late 2008 ...
Austerity is grounded in liberal economics' view of the state and sovereign debt as deeply problematic. Blyth traces the discourse of austerity back to John Locke's theory of private property and derivative theory of the state, David Hume's ideas about money and the virtue of merchants, and Adam Smith's
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The global Occupy movement.; The May–July 2011 Greek protests, also known as the "Indignant Citizens Movement" or the "Greek indignados", started demonstrating throughout Greece on 25 May 2011; [6] the movement's largest demonstration was on 5 June, with 300,000 people gathering in front of the Greek Parliament, [7] while the organizers put the number to 500,000. [8]
The U.S. must slash its deficit to 3% from an expected 7.5% before the president’s second term in office ends, otherwise a death spiral will likely ensue.
“When you step back, you see how important this is for our society.” President Milei came to power last December, inheriting an economy in shambles after years of chronic overspending and ...
The anti-austerity movement in the United Kingdom saw major demonstrations throughout the 2010s in response to Conservative-Liberal Democrat coalition government's austerity measures which saw significant reductions in local council budgets, increasing of university tuition fees and reduction of public spending on welfare, education, health and policing, among others.
Milei's polling numbers are high and rising, monthly inflation has come down from 25% to 3%, markets are soaring and distortions in the currency markets have eased. That is despite the real ...