I’m intrigued by Duncan’s idea of an austerity curve. - the idea that:
cutting government spending up to a certain point leads to lower deficits but beyond a certain point, the impact of lower growth and higher unemployment means that deficits get worse as the government cuts more.
David Cameron’s premiership must be considered a failure. He wanted to keep the UK in the EU, but failed; he wanted to preserve the Union but Scotland might well leave as a result of Brexit; and he wanted to heal a “broken Britain” but leaves the country divided and with hate crime rising.
A big reason for these failures lies in economic policy. Unnecessary austerity contributed to Brexit in four ways:
Child labor has a dark history around the world. But banning child labor outright may not work in countries with systemic, widespread poverty and no social security programs to help out poor families in dire straits.
One sure way to know voters are fed up with the economy is when politicians are thrown out on their asses en masse. That is exactly what happened down under as Australia PM surprised by Labor rout in state election.
Australian Prime Minister Julia Gillard said on Monday she was surprised at the scale of her ruling Labor party's defeat in state elections, widely seen as a dire warning for her fragile government.