Be outraged: there are alternatives
Date
2012Author
Jolly, Richard
Cornia, Giovanni Andrea
Elson, Diane
Fortin, Carlos
Griffith-Jones, Stephany
Helleiner, Gerry
van der Hoeven, Rolph
Kaplinsky, Raphie
Morgan, Richard
Ortiz, Isabel
Pearson, Ruth
Stewart, Frances
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Abstract
Pushed to extremes, austerity is bad economics, bad
arithmetic, and ignores the lessons of history. We, an
international group of economists and social scientists, are
outraged at the narrow range of austerity policies which are
bringing so many people around the world to their knees,
especially in Europe. Austerity and cutbacks are reducing
growth and worsening poverty. In our professional opinions,
there are alternatives – for Britain, Europe and all countries
that currently imagine that government cutbacks are the
only way out of debt. The low-growth, no-growth trap
means that the share of debt in GNP falls ever more slowly,
if at all. It may even rise – as it has in some countries.
Citation
Jolly, R. et al. (2012) Be outraged: there are alternatives. Brighton: Richard Jolly / OxfamRights holder
Richard JollyCollections
- IDS Research [1639]