Home > unemployment > So much for ‘expansionary austerity’ solutions

So much for ‘expansionary austerity’ solutions

from Lars Syll

Unemployment rates in Europe, Japan and US
Unemployment_rates_EU-28_EA-18_US_and_Japan_seasonally_adjusted_January_2000_January_2015

Source: Eurostat

If this is recovery for Europe, well, I’ll be dipped! Some years ago unemployment rates at these levels were considered totally unacceptable. And then came the Reagan-Thatcher turnover and price stability was everything and being unemployed was something people freely chose to be …

  1. March 12, 2015 at 11:53 am

    I do wish the advocates of “expansionary austerity” (and they’re mainly at Harvard) would advocate witch-craft instead. That would do less harm.

  2. Hepion
    March 18, 2015 at 5:41 pm

    And Japan has been doing “internal devaluation” for 20 years, resulting only in deflation, appreciating Yen but no export-led growth.

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