Government Finance

    Government response to global financial crisis has threatened to crowd out the other important social functions of government the world over. Economic and social development require restoration of governments' ability to effectively tax and borrow within capital markets.

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    The Austerity Trap: A Century of Unrest and Budget Cuts

    Budget cuts can be dangerous. Inspired by the wrenching experience in Greece, increasing attention is now being paid to the fact that austerity may fail to reduce the government deficit if the economy declines in response, as is likely in a liquidity trap (Delong and Summers 2012). Read more

    Austerity, Polarity and the Prospect of Regime Change: China

    Since the dawn of this millennium, and long before the current financial turmoil and the subsequent bitter pill of austerity therapy hit the Untied States and the European Union, the Chinese Communist Government has publicly recognized the monumental challenge of polarity. Read more