Infographic: Austerity – An Epic Failure?

August 8, 2012Marketsby EW News Desk Team

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According to a recent report by UNICEF, “the simultaneous adoption of fiscal austerity in countries worldwide is driving the global economy toward recession, imposing human costs that are detrimental to high-income and developing countries alike.”

Yet the world remains fixated on austerity and cost-cutting measures to boost recovery, which in turn has made the economic crisis even worse than it already is.

Check out this infographic, which charts the timeline of austerity’s failure in Europe, and details economic figures in European countries pre-and-post austerity measures.

Related: Europe’s Man-Made Disaster – An Austerity Tragedy: Joseph Stiglitz

Related: Will Austerity Make Inequality Worse? : Ortiz & Cummins

 

Austerity Is Not Working

 

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