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Protesters bang pots and pans as hundreds of people march through the streets during a demonstration in support of striking Quebec students in Vancouver, B.C., on Wednesday May 30, 2012. (DARRYL DYCK/THE CANADIAN PRESS)
Protesters bang pots and pans as hundreds of people march through the streets during a demonstration in support of striking Quebec students in Vancouver, B.C., on Wednesday May 30, 2012. (DARRYL DYCK/THE CANADIAN PRESS)

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Why the young should cheer government austerity Add to ...

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Why the young should cheer government austerity
Young adults in Quebec have been demonstrating against government austerity in the form of tuition hikes, but maybe they’re not looking at the big picture. If governments don’t reduce spending now, then future debt problems could trigger much harsher cuts later on. This is the argument raised here by economic historian Niall Ferguson, who writes: "If young Americans knew what was good for them, they would all be in the Tea Party."

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