Austerity: we are not all in it together
By Michael Kitson, Ron Martin, and Peter Tyler
Europe has a Greek tragedy; the US is grappling with a Tea Party; and in the UK we have the economic consequences of austerity. The focus is budget deficits, public expenditure cuts and being ‘all in it together’. But, of course, we are not all in it together. The impact of austerity is very unequal: the whole mess was started by the financial sector driven by avarice and hiding behind the convenient veil of ‘free markets’; but the burden is being felt by the poor, the unemployed and the destitute. And the inequality is being felt in different parts of the UK, Europe and the USA.