By Georg Wenzelburger, Albert-Ludwigs-Universität FreiburgCross-post from LSE, Originally Published February 12, 2014The argument that cutting social spending is an essential part of necessary fiscal adjustments is pervasive. That slashing welfare does not harm economic growth while tax hikes do is treated as received wisdom by many academics and policymakers. Georg Wenzelburger deconstructs the argument in favour of welfare … Continue reading Adjusting Public Finances By Cutting Welfare is Too Simplistic
By Giacomo Benedetto (@ggbenedetto), University of London Resort to reversion points is what happens in politics and policy where a failure to reach a decision has a consequence other than continuing the status quo. If there is no agreement and a reversion point takes effect, the political actor that can influence the reversion point has … Continue reading What Can Reversion Points Teach Us About Public Policy?