Here’s an excellent blog published by the Economist, arguing for more growth rather than austerity. It’s well worth a read. Check it out!
It seems to me that whilst the “austerians” are in the minority, for the moment they still hold the balance of power but pressures are escalating. Hopefully, common sense will prevail soon. Perhaps Nobel winning liberal economists like Joe Stiglitz and Paul Krugman will start to influence policy-makers to change direction.