A report on the causes of BREXIT has been published. According to this report, Brexit was the reason of ‘Poverty, Low Skills and Lack of Opportunities’. The research was accomplished by Goodwin, M, and Heath, O (2016) for the JRF Organisation. ‘This report provides unprecedented insight into the dynamics of the 2016 vote to leave… Continue reading Instability: Poverty and low skill push Britain to Brexit
But, finally, Prime Minister David Cameron and his faithful Austerity master Chancellor George Osborne came to know that Austerity is one of the bad measures, have been applied by the Tory government. The question raises that who will be the responsible for such a blunder mistake by which people and nation loses a lot ? This is a mistake of rich punish to the poor ! Is that fair ?
Stiglitz said the best way to save the European political project was “to let the euro go … Not only has there been evidence of a lack of solidarity, there is even a misunderstanding of what solidarity is, and you can’t have a group of countries with the same economic arrangements without some degree of solidarity.”
The UK’s economy is not bad even it is safer as it has its own currency to manipulate international trade, but need to careful. Only enjoying with austerity is a kind of contraction of economy, it doesn't help in the long run. It is short run rescue plan. Economics always says that expenditure is definitely not a problem if earning is smoothly going on. So need to learn how to earn...
The humanitarian impact has been colossal—40 percent of children now live in poverty, infant mortality is sky-rocketing and youth unemployment is close to 50 percent. Corruption, tax evasion and bad accounting by previous Greek governments helped create the debt problem. Continue reading
For all of us who live and work at the sharp end of cuts – minimum-wage employees surviving on diminishing benefits, disabled people, tenants facing eviction, NHS employees – the destructive impact of austerity is clear. Austerity damages society, It is a smokescreen for the ideologically driven destruction of the welfare state and all the evidence shows that it’s bad for economic growth, too.