Has Austerity Worked?

The global financial crisis reignited an old debate - is it better to cut spending and raise taxes in an economic downturn, or spend your way out of it? After a period of relative consensus up to 2010, some countries inclined more to austerity (cuts and tax rises), some against. In this edition of The Inquiry we examine whether we now have the evidence to settle this important economic argument.

(Photo: Anti-austerity demonstration. Credit: Zak Kaczmarek/Getty Images)