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| | Austerity - Education - Information - Educational Resources - Encyclopedia - Music |
 | | Austerity is a term from economics that describes a policy where nations reduce living standards, curtail development projects, and generally shift the revenue stream out of the physical economy, in order to satisfy the demands of creditors. |
 | | Typically, private banks, or institutions like the International Monetary Fund (I.M.F.), will demand an "austerity policy" from a national government, as a condition for re-financing loans that are coming due. |
 | | This might involve cutting food or fuel subsidies, underfunding public infrastructure (transport, education, health care, water and power management), or rationing. |
| education.music.us /A/Austerity.htm (349 words) |
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