The 50 Trillion Dollar Question: What is Austerity? 

The modern system of austerity took shape in the mid-1970s and we are still in its grip. Austerity is meant to trap us in a destructive double-bind; the race to the bottom for millions of people is also the race to the top for the few. The cost? More than $50 trillion. The human cost in misery, death, and despair? Devastating yet uncounted. More

Source: The 50 Trillion Dollar Question: What is Austerity? – CounterPunch.org

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