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Has austerity failed?

The OECD says growth prospects have 'practically flat-lined', and that countries should focus on 'a greater use of fiscal and pro-growth structural policies'. So is austerity over? Mark Blyth, Professor of Political Economy at Brown University in New York, and Michael Tanner of the Cato Institute in Washington disagree.

Picture shows: Labour unions demonstrate against austerity measures affecting working conditions, salaries and pension plans, in Paris, France, 26 January 2016.

Photographer: Christophe Petit Tesson

Copyright: EPA

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Duration:

9 minutes