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Volume 16  Number 3  •  Winter 2012
Other Issues:  

Portugal’s Plight: The Role of Social Democracy
By George Bragues
This article appeared in the Winter 2012 issue of The Independent Review

Portugal’s fiscal crisis is the culmination of unsustainable social-welfare policies the country has pursued since its 1974 revolution. Portugal is in worse condition than other social democracies because it expanded its welfare state relatively quickly despite having little capital accumulation from which to fund it.

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