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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
Austerity is a policy of deficit-cutting, which by definition requires lower spending, higher taxes, or both. Austerity or Austere may also refer to: Music.
Austerity is also described as “a condition of enforced or extreme economy” [1]. Here, austerity refers to the reduction of investment, as well as expenditure in general, by the state due to an economy in jeopardy. Recent episodes of austerity are often linked with neoliberalism, which is the latest form of capitalism.
Europe's deteriorating economic situation continues to dominate the financial headlines. Fortunately, much of the news this month has been positive. Greece managed to default in an orderly manner ...
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 ...
A laconic phrase or laconism is a concise or terse statement, especially a blunt and elliptical rejoinder. [1] [2] It is named after Laconia, the region of Greece including the city of Sparta, whose ancient inhabitants had a reputation for verbal austerity and were famous for their often pithy remarks.
U.S. Treasury Secretary Scott Bessent has been ordered to cease production of the one-cent coin known as the penny, President Donald Trump said in a posting on his Truth Social media account on ...
Austerity policies are most generally characterised by a reduction of public spending in general, and not necessarily in the "physical economy". Whether or not "physical economy" is a "LaRouchism" is irrelevant; the term should not be in the article, except maybe in one sentence closer to the end. Mat334 02:16, 19 December 2005 (UTC)