Showing posts with label austerity. Show all posts
Showing posts with label austerity. Show all posts

Tuesday, June 4, 2013

Austerity and Demoralization

The high unemployment that we have today in Europe, the United States, and elsewhere is a tragedy, not just because of the aggregate output loss that it entails, but also because of the personal and emotional cost to the unemployed of not being a part of working society.

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