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Economy Economy

Austerity Report  Austerity report (May 2013) Scientific publication: http://arxiv.org/abs/1305.5373

The political idea and the political measures, 'austerity' are based on a simple and single myth. Namely that economic growth is stopped when the national debt reaches a critical limit of 90% of the GDP. This comes from a single scientific article published by two economists, Reinhart & Rogoff. In the meantime this article has been debunked as being scientific crap. Very few economists agree with the ideas. Nearly no economists think that austerity is the answer to the crisis.

In the meantime you cannot stop a running train austerity will continue. Austerity is ruinous for our society, as will be shown here. It is unnecessary and ruinous.

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For more information, contact me at The University of The Algarve,

Prof. Peter Stallinga