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Articles on Fiscal austerity

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Residents of Masiphumelele informal settlement in Cape Town gather to collect food parcels provided by One South Africa Movement representative. EFE-EPA/Nic Bothma

Making economic policy in South Africa in hard times: the role of human rights

It is becoming increasingly clear that South Africa’s policymakers can no longer ignore the country’s obligations in terms of international, regional and national human rights law.
South Africa’s Finance Minister Pravin Gordhan is fighting to stave off a downgrade by ratings agencies. Siphiwe Sibeko/Reuters

South Africa is skating on thin ice as rating agencies weigh their options

South Africa has made some progress in fixing problems identified by ratings agencies. But there are a number of outstanding issues that might mean the country is given ‘junk’ status.
The “crowding out” theory underpinning arguments to slash government spending should be viewed with scepticism. Image sourced from www.shutterstock.com

‘Crowding out’ and the fallacy of fiscal austerity

In the lead-up to the federal government’s budget in May, we’ve been told to expect deep cuts in government spending. Such a policy is said to contribute to a short run decline in Australia’s economic…

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