More than 140 governments will cut spending in 2023, affecting more than 6.7 billion people – or 85 per cent of the world population. Unless this policy contagion is contained, the coming years will be even more painful than the era following the 2008 financial crisis.
When the neoliberal policies of old failed us, it has been the far right that seized on the public discontent to make political gains. But the solutions they offer are broken, and voters must demand public investments that actually benefit people.