I recommend a read through this post on the myth of austerity in Europe by Philip Bagus, a professor at Rey Juan Carlos University in Spain:

http://mises.org/daily/6289/The-Myth-of-Austerity

It is a lucid restating of the classic Austrian argument against artificial interventions in recessionary market clearing mechanisms.

 

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Posted by Carlos Alvarenga

Carlos Alvarenga is the Executive Director of World 50 ThinkLabs and an Adjunct Professor at the University of Maryland's Smith School of Business.

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