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Mark Carney is an economist. So why is he ignoring decades' worth of data showing austerity makes things worse?
#Austerity "has significant and persistent negative effects on employment and the size of an economy (...), with the damage lasting more than 15 years"
"When governments cut spending, firms delay investments. This, in turn, lowers productivity growth and reduces job creation."
If Mark Carney can't set aside his own conservative ideology long enough to actually help Canadians, he should step down and make room for a Liberal leader who can.
Across a variety of advanced economies, "the negative impact [of #austerity] on GDP remains substantial even after a decade and a half. On average, GDP is more than 5.5% lower 15 years after a large austerity shock than would have been expected if there had been no austerity"
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