So much for ‘expansionary austerity’ solutions

It all went pear-shaped in 2008 but it is getting better now. Except the graphs tell a different story – but hey who cares about the facts…..

LARS P. 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 …

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