Financial austerity: eroding the sharing economy Today, many governments are eroding the very basis of the sharing economy by implementing programs of austerity that dramatically cut public spending on social welfare and essential services.
Japan's fiscal condition became even worse after the March 2011 earthquake, but most politicians, with their eyes on the next election, have tried to avoid talking about fiscal austerity and tax hikes.
Cyprus received a €10 billion bail-out in March 2013 from the European Union and the International Monetary Fund on condition that it implemented a strict programme of austerity measures.
In addition, Morales broke his promise to triple the painfully low minimum wage, increased it 10% instead, and maintained previous neoliberal fiscal austerity and economic stability policies.
This raises the cost of living, and hence the cost of labor- while overall wage levels are squeezed by the financial austerity that shrinks markets and raises unemployment.
Being the leader of the European Union, she is most influential in shaping the policy of Europe and imposing tough austerity measures in handling the Euro crisis.
He criticized the Tories' policies and said that the Labour Party should argue for an end to austerity policies, increased social welfare, higher taxes on the rich and corporations, rent support for the poor, and eliminating the political independence of the central bank, among other things.
Although Yeltsin promised that he would abandon his unpopular neoliberal austerity policies and increase public spending to help those suffering from the pain of capitalist reforms, within a month of his election, Yeltsin issued a decree canceling almost all of these promises.
The New Communism matters not because of its intellectual merits but because it may yet influence layers of young Europeans in the context of an exhausted social democracy, austerity and a self-loathing intellectual culture,” wrote Johnson.
In June there were peaceful protests and gatherings at Syntagma(Constitution) Square, and when protesters planned to surround the House of the Parliament the day for which the vote for the Mid-Term Austerity Programme had been scheduled, there were violent clashes with the police.
One of the great mistakes early on in the recovery from the financial crisis was the move in some parts of the world towards austerity measures. Research has shown that austerity or even inadequate stimulus packages following the 2008 crisis led to longer periods of high unemployment.”.
The EU Commission, the Member States and the IMF are using the crisis to impose harsh austerity measures, including deep cuts in public employees' salaries, reduction or freezing of pensions, an end to collective bargaining, drastic cutbacks in public spending and so on.
As European leaders scramble to address the sovereign debt crisis, Nobel Prize-winning economist Joseph Stiglitz argues the austerity measures pushed by Germany, the United States and international creditors are only"going to make the countries weaker and weaker.".
Merkel herself seems to have realized that the time has come to change her attitude towards austerity policy, which must be attenuated to favor openings favorable to the social classes that have paid the most for the price of these policies.
Usually these are high-rate projects of austerity for the countries affected by the Troika interventions, but, on the other hand, the austerity required is the only way they are able to obtain loans that will allow them to get out of the crisis.
These economists have come to question whether orthodox austerity measures are always appropriate in the developing world, and, more broadly, to question the American commitment to pure laissez-faire internationalism.
This includes the widespread mobilisations for an alternative to austerity measures; for the sharing and conservation of natural resources; for shared public spaces and the non-enclosure of the commons; and for the right priorities in public spending on behalf of the common good.
As debates continue to generate strongly opposed views on the pros and cons of austerity measures and social spending cuts, Report Card 11 charts the achievements of 29 of the world's advanced economies in ensuring the well-being of their children during the first decade of this century.
Meanwhile, economic activity in Europe continues to recede slowly as business fixed investment and private consumption have been declining partly due to the effects of fiscal austerity and the tightening of financial conditions, although further deterioration in business and household sentiment is coming to a halt.
As debates in the EU continue to generate strongly opposed views on the pros and cons of austerity measures and social spending cuts, Report Card 11 charts the achievements of 29 of the world's advanced economies, including 27 EU member states, in ensuring the well-being of their children during the first decade of this century.
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