
Published online:
26 September 2013
Published in print:
16 January 2013
Online ISBN:
9781447310822
Print ISBN:
9781447308942
Contents
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Austerity or prosperity? Austerity or prosperity?
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The revenue path to prosperity The revenue path to prosperity
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The spending path to prosperity The spending path to prosperity
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Investing in childcare Investing in childcare
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Investing in physical infrastructure Investing in physical infrastructure
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Conclusion Conclusion
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Notes Notes
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Chapter
3.1 The path to post-recession prosperity
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Pages
130–141
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Published:January 2013
Cite
Draut, Tamara, 'The path to post-recession prosperity', in Sophia Parker (ed.), The squeezed middle: The pressure on ordinary workers in America and Britain (Bristol , 2013; online edn, Policy Press Scholarship Online, 26 Sept. 2013), https://doi.org/10.1332/policypress/9781447308942.003.0010, accessed 7 May 2025.
Abstract
This chapter argues that the political response to the current recession must ensure that the return to growth results in broad-based prosperity that benefits all workers. The single-minded focus on deficit reduction in Britain and America alike fails to address the deeper crisis in living standards that goes back to well before the current downturn began. A plan for broad-based growth must include action to generate more revenue from taxation and to increase government spending on social and physical infrastructure. Investing more in education and childcare would both help employment and reduce inequality - stimulating growth in the long-run.
Keywords:
Living standards, Growth, Prosperity, Recession, Education, Childcare, Employment, Inequality
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