The paradoxal outcome of the Troika prescriptios is that at the end of the fifth years of austerity the budget deficit is equal to or greater than the initial ones for all considered countries.
Keynes's proposition that “the boom, not the slump, is the right time for austerity” was falsified, austerity becoming a good policy for all seasons in highly indebted countries. But the time for a Kaleckian (and Keynesian) over-due revival is now.
The protests have permanently changed Brazilian politics, cracking apart the governing class' comfortable assumption that injustice and democracy are compatible if you keep the people amused.
The market-based distribution of income concentrated at the top of the income distribution, particularly the rising share of investment income at the expense of labor income, is driving the sharp growth of income inequality in the United States.
