FE@CAMPUS MASTERMIND: Response by Jatin Mehra to question for Jan 21-27
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It is a very subjective call first of all, if there is actually a need of austerity in the wake of a global recovery. What may be a boon for capital deficit economies would be a bane for the capital surplus economies. Some might argue that it would be actually counterproductive to be austere if you talk from a strictly economic view as it would lead to some stability in the small run, but would contribute to the job cuts and would contribute further to the slowdown.
(This entry is part of our FE MASTERMIND contest. The views expressed in this article are personal and not that of the newspaper.)