Dr. Steven Hail, Economics Lecturer at the University of Adelaide, Australia discusses the history and destructive effects of decades of austerity measures implemented by governments around the world including those in the US, UK, and Australia. He goes into particular detail about the fire at the Grenfell Tower apartment building in Kensington, London which is among the most affluent communities in the world, that killed 71 people. The fire itself was a result of poor technical upkeep and incompetence by the building's management. Unsurprisingly most of those affected were much poorer on average than the rest of Kensington. A big reason for the building's years of neglect was a lack of funding by the UK government.
Dr. Hail also mentions that austerity measures in the US have led to issues such as the lead-contaminated water in Flint and other poor communities of color. These austerity measures have been in place since the 1970s due to governments adopting neoliberal, free-market solutions to the economy, and have resulted in higher levels of unemployment and greater income inequality.
Related links:
Jon Henley “Recessions Can Hurt But Austerity Kills”
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Alan Travis “Grenfell Tower fire: was Tory austerity to blame or do problems date back to Blair?”
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Spencer Kimball “How Austerity Poisoned the People of Flint, Michigan”
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