Carney knows this. So why does he want more wealth inequality?

Austerity has *never* worked.

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As the past four years and countless historical examples from the last 100 years show, while it makes sense for any one state to try and cut its way to growth, it simply cannot work when all states try it simultaneously: all we do is shrink the economy.

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As Blyth amply demonstrates, the arguments for austerity are tenuous and the evidence thin. Rather than expanding growth and opportunity, the repeated revival of this dead economic idea has almost always led to low growth along with increases in wealth and income inequality.

polisci.brown.edu/publication/…

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Austerity: The History of a Dangerous Idea

Selected as a Financial Times Best Book of 2013

^{Political Science | Brown University}