Macroeconomics Script

Fiscal austerity is a view mainly favoured by the conservative party who is

currently implementing reforms in order to reduce the deficit and consequently
the UK's huge debt! It is a view that is also shared by those who follow Friedrich
Hayeks teachings which although has many similarities to keynesians ideas in
the sense that they both wanted to sort out unemployment and the other
macroeconomic objectives had a major difference in the way that they wanted to
get the economy back to its better phases.