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Can governments who adopt austerity simultaneously fight inequality?

Can governments who adopt austerity either as part of an aid package (e.g. Greece) or voluntarily (e.g. UK) successfully fight growing inequality in the planet.

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    Apr 12 2014: .
    Yes!
    It can and has to.

    Reason:
    (1) "Austerity" means no invalid happiness.
    (2) "Inequality" makes invalid happiness.