Austerity
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In economic policy, austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both. There are three prim
Relationship between fiscal tightening (austerity) in eurozone countries with their GDP growth rate, 2008–12
David Cameron, Prime Minister of the United Kingdom, 2010–2016
Austerity protest in Athens, 2011
Neoliberalism
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Neoliberalism is a political and economic ideology that advocates for free-market capitalism, which became dominant in policy-making from the late 20th century onward. The term has multiple, competing
Friedrich Hayek
Ronald Reagan (left) and Margaret Thatcher (right) were responsible for the popularisation of Neoliberalism.
Ludwig Erhard
Pamphlet calling for a protest of economic policy in 1983 following the economic crisis