Portugal has found an antidote to right wing populism | Kontrast.at

From the article:

—“Considering the booming economy, dropping unemployment numbers and the return of many once-emigrated young Portuguese citizens, it seems Portugal is on the rise. Facing the policies of socialist Prime Minister António Costa, which include properly supporting the welfare state and investing in the public sector instead of austerity measures, right wing populists don’t stand a chance.”—

Austerity measures rarely work. Austerity being where a government reduces spending, increases in tax revenues, or both of them simultaneously in an attempt to lower budget deficits and avoid a debt crisis. They rarely work because they reduce economic growth, the government lays off workers and with the public sector experiencing less growth then lay off workers too increasing unemployment. And that’s just the start of it.

Portugal invested in their people and it’s paying off

—“The budget deficit has dropped to its lowest ever since the change to a democratic system in 1974 – simply because the government re-established and strengthened the social welfare state, leading to the Portuguese people having more money to spend.”—

Again…

“THE BUDGET DEFICIT HAS DROPPED TO ITS LOWEST EVER SINCE THE CHANGE TO A DEMOCRATIC SYSTEM IN 1974 “

And

“…LEADING TO THE PORTUGUESE PEOPLE HAVING MORE MONEY TO SPEND.”

How important to the health of the economy is that?

The economist Mark Blyth has a Google Lecture on YouTube based on his book “Austerity – The History of a Dangerous Idea” that is well worth the time listening too.