An anti-austerity protest in Italy "The Myth of Austerity" is the article I wrote for my Freshmen Research Paper in the 2013-2014 academic year, whilst I was in the ninth grade. Below is the full version of the paper, including citations. Many thanks to my Freshmen Humanities teacher, Dr. Marty Schmidt, for all his support regarding this paper. Enjoy! *** Yashvardhan M. Bardoloi Dr. Marty Schmidt Humanities I in Action 18 February 2014 The Myth of Austerity In September 2008, investment bank Lehman Brothers unexpectedly declared bankruptcy (“Case Study”). Its failure sent shockwaves across a globalized economy and “almost brought down the. . .financial system” (“Crash Course”). Fragile “credit markets seized up,” bringing business to a halt (Ferguson 271). The United States entered a two year recession (Business Cycle), and unemployment reached levels unseen since the Great Depression (Krugman, “End This” 4). Amidst this carna
An economics blog by Yashvardhan Mehra Bardoloi