Portugals 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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|Other Independent Review articles by George Bragues|
|Fall 2009||You and the State|
|Fall 2004||The Market for Philosophers|