Poland has so far avoided austerity policies comparable to those conducted in Southern Europe and some Eastern European EU-member states. The country has been the only EU member state not to have undergone a recession since the outbreak of the financial crisis. The raising of government spending – particularly through increased public investment – has meant that Polish society has been sheltere...

Keywords austerity, women workers, union democracy, trade unions, unemployment, labor, racism, social welfare, working class

This paper analyzes local and global equilibrium dynamics in an optimizing endogenous growth model under expenditure-based fiscal austerity feedback policies expressed relative to the private capital stock—prescribing spending cuts reaction public debt accumulation. Because present value of primary surpluses turns be a nonlinear function debt, two steady state equilibria are shown emerge, one e...