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There is no austerity equal to a balanced mind, and there is no happiness equal to contentment; there is no disease like covetousness, and no virtue like mercy.
The moment a large investor doesn't believe a government will pay back its debt when it says it will, a crisis of confidence could develop. Investors have scant patience for the years of good governance - politically fraught fiscal restructuring, austerity and debt rescheduling - it takes to defuse a sovereign-debt crisis.
Andrew Ross Sorkin
The world has conducted a massive macro-economic experiment since the cataclysm of 2008. In Europe, the fans of austerity have had their chance, and the results have been a disaster.
Even in a time of fiscal austerity, education is more than just an expense.
Austerity is not part of the European treaties; democracy and the principle of popular sovereignty are.
People are increasingly frustrated that decisions taken further and further away from them mean their living standards are slashed through enforced austerity or their taxes are used to bail out governments on the other side of the continent.
The flaw in, say, austerity, is that its success is predicated on the relative exactitude of math rather than the shifting, liquid imperfection of people's lives.
Past experience with fiscal austerity at home and overseas strongly suggests that it is best for the economy's long-run performance to restrain government spending rather than raise taxes.
The TUC's new slogan 'a future that works' sets a profound challenge. Austerity and rapid deficit reduction is failing in its own terms, but even at its best it is short-sighted, muddle-through politics with no vision of a new economic model.
A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic.
Pope Francis has stressed humility and austerity - a far cry, according to many, from the predecessor's bling and Ferragamo shoes - those were pretty entertaining. And he's translating all of that into a policy agenda.
Americans have always been able to handle austerity and even adversity. Prosperity is what is doing us in.
Joyce for all his devotion to his art, terrible in its austerity, was a lad born with a song on one side of him, a dance on the other; two gay guardian angels every human ought to have.
Deficits must be cut, yes, but the rush to austerity risks undermining the fragile global recovery.
Austerity policy without currency devaluation can only hamper economic growth.
The seminaries must be like the churches' poor relations, prolonging their existence with austerity.
Never has a strong, responsible trade union movement been so needed. With austerity policies biting hard and with no evidence that they are working, people at work need the TUC to speak up for them now more than ever.
Democracies can't handle austerity measures very well.
Nassim Nicholas Taleb
Austerity need not be Europe's fate.
Having done a Dogme film taught me the beauty of simplicity and austerity.
In the U.S. the powerful critics of austerity such as Paul Krugman and Robert Reich rightly identify the decline of 'labor' as a problem, and renewing trade unionism part of the solution. Our opportunity is to make the same case in the UK.
There is a danger for Britain as we perceive ourselves, or as we are - less wealthy, facing economic austerity - that we essentially draw back. I think there is a recoil in parts of the country, and in parts of the government actually, from the multilateral system, and I think that's dangerous and wrong.
Bond investors want growth much like equity investors, and to the extent that too much austerity leads to recession or stagnation then credit spreads widen out - even if a country can print its own currency and write its own cheques.
But the fact that we had to devalue by 40% at once means that Malawians are feeling the shock, the impact of that huge devaluation and particularly rural people, the poor are the ones that are going to be most affected. That is why there is the austerity plan.
The U.K. and almost all of Europe have erred in terms of believing that austerity, fiscal austerity in the short term, is the way to produce real growth. It is not. You've got to spend money.
Leonardo da Vinci
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