- Why has the European economy failed to grow in the past five years? Austerity. Why? Basic economics, as anyone familiar with the concept of aggregate demand can explain to you. http://www.newyorker.com/online/blogs/johncassidy/2013/05/austerity-an-irreverent-and-timely-history.html?mbid=gnep&google_editors_picks=true 7 comments politics
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