Britain’s government is engaged in the steepest deficit reduction of modern times. People are losing, or will soon lose, benefits in the biggest shakeup in the shape and scope of Britain’s welfare state since its foundation more than 60 years ago. A team of reporters from the Financial Times tracks the cuts and their impact in this comprehensive multimedia project.
In this video, Sarah Neville discusses the project. Read her look behind the scenes of the project here.
This report is part of a Pulitzer Center-sponsored project “Britain: Charting the Impact of Austerity.”
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The austerity agenda looks a lot like a simple expression of upper-class preferences, wrapped in a facade of academic rigor. What the top 1 percent wants becomes what economic science says we must do.Paul Krugman, “The 1 Percent’s Solution” (New York Times, April 26, 2013)
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Colbert takes on Rogoff & Reinhart

Whoops! Oh well, sorry to the millions suffering from austerity due to an Excel error.
Read Jared Bernstein for more.
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All I can hope is that future historians note that one of the core empirical points providing the intellectual foundation for the global move to austerity in the early 2010s was based on someone accidentally not updating a row formula in Excel.Mike Konczal, “Researchers Finally Replicated Reinhart-Rogoff, and There Are Serious Problems”
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To give the prize to the European community, at a time, effectively, when economically, it is promoting unemployment, creating real class divides in virtually every country in Europe, where it has led to enormous violence on the streets of Greece, because of the policies being pushed by the EU … it is a complete and utter joke.Tariq Ali on the Nobel Peace Prize being awarded to the EU [Via Verso Books]
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Things are getting heated in Greece. Here a male MP from the neo-fascist Golden Dawn party hits a female MP from the Greek Communist Party.
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Keep Calm and Carry On (via Atrios)



