austerity (Photo credit: 401(K) 2013)

This is a must-read article in the New York Times. Check it out!

How Austerity Kills – NYTimes.com.

The authors, two academics, David Stuckler (Oxford) and Sanjay Basu (Stanford) provide evidence linking increasing suicides and austerity. Here is an extract from their article to give you a flavor:

If suicides were an unavoidable consequence of economic downturns, this would just be another story about the human toll of the Great Recession. But it isn’t so. Countries that slashed health and social protection budgets, like Greece, Italy and Spain, have seen starkly worse health outcomes than nations like Germany, Iceland and Sweden, which maintained their social safety nets and opted for stimulus over austerity. (Germany preaches the virtues of austerity — for others.)

Personally, I am hopeful that Germany will discretely soften her stance after the September election. The alternative of continued “austerity” is unthinkable.

Any thoughts?

Related articles

• The 1 Percent’s Solution – Paul Krugman – NYTimes.com
• The Ignoramus Strategy – NYTimes.com – Paul Krugman
• The Jobless Trap – NYTimes.com – Paul Krugman
• Keynes, Keynesians, the Long Run, and Fiscal Policy – NYTimes.com
• Not Enough Inflation – NYTimes.com – Paul Krugman
• The Chutzpah Caucus – NYTimes.com – Paul Krugman
• The Story of Our Time – NYTimes.com – Paul Krugman
• Inflation Is Miserable. Unemployment Is Worse. – NYTimes.com
• Many Colleges and Universities Face Financial Problems – NYTimes.com