4 hours ago ... That point is rammed home by a new paper from the economists Jacopo Ponticelli and Hans- Joachim Voth . Titled “Austerity and Anarchy”, ...

In a spectacularly well-timed paper, Jacopo Ponticelli and Hans Joachim Voth argue yes. Expenditure cuts carry a significant risk of increasing the frequency of riots, anti-government demonstrations, general strikes, political assassinations, and attempts at revolutionary overthrow of the established order.

The Great Recession gave birth to a lost generation across the world, where youth unemployment rates stretch into the 20s, 30s and even 40s. Those millions have responded with violence. The riots and fires consuming London are a story about senseless violence and crime.