in Cambridge Journal of Economics
September 2015; p ublished online August 2015 .
Journal Article. Subjects: Economic Methodology; Wages, Compensation, and Labour Costs; National Budget, Deficit, and Debt; General Aggregative Models; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Public Economics. 4683 words.
The UK Coalition government’s economic policy was primarily aimed at reducing the large fiscal deficit that it inherited, mainly by cutting expenditure. This was considered irrational by...