Austerity Is Back – and More Dangerous Than Ever
A decade and a half after the global financial crisis, austerity has returned. But this time it is not just an economically dangerous idea that promises to make a bad situation worse; in the hands of Elon Musk and Argentine President Javier Milei, it is also a political weapon and a redistributive tool.
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PROVIDENCE – What do Rachel Reeves, Javier Milei, and Elon Musk have in common? All are preaching the gospel of austerity as a necessary cure for what ails their respective economies.