Economic Note
Most European economies have been in recession, or close to it, since the beginning of 2012. Unemployment rates are reaching record highs. Meanwhile, a debate has been raging about the deleterious effects of « austerity » measures. In recent weeks, various heads of government, finance ministers, and European Union officials have declared that austerity has gone too far and is preventing a recovery. Even the International Monetary Fund, in a reversal of its traditional position, is now asking countries to slow the pace of their austerity drives to keep a fragile recovery on track.
How should we view the situation in Europe? Is austerity responsible for the crisis, as Keynesians believe? Or is it part of a necessary cure, as Austrians think? As we shall see, these alternatives do not accurately capture what is happening in Europe because of the ambiguous meaning of the word « austerity. »
– Read the Economic Note in French…
– Read the Polish translation of the Economic Note…
Published on Instytut Misesa on November 4, 2013
– Read the Slovak translation of the Economic Note…
Published on Finančný trh on July 15, 2013
– Read the Chinese translation of the Economic Note…
Published on Blog.Sina.com on July 11, 2013
– Read the Italian translation of the Economic Note…
Published on Johnny Cloaca’s Freedonia on July 8, 2013
– Read the German translation of the Economic Note…
Published on Mises Institut Deutschland on June 26, 2013
– Read the Romanian translation of the Economic Note…
Published on Centrul pentru Economie şi Libertate on June 24, 2013
– Read the Spanish translation of the Economic Note…
Published on Instituto Mises Hispano on June 12, 2013
– Read « L’austérité est-elle responsable de la crise? »
Op-ed by Martin Masse, associate researcher at the IEM, published in La Tribune on May 21, 2013
– Read « What austerity? »
Op-ed by Martin Masse, associate researcher at the IEM, published in the National Post (Canada) on May 17, 2013
