Author: Mark Blyth
Edition:
Publisher: Oxford University Press, USA
Binding: Hardcover
ISBN: 019982830X
Price:
You Save: 43%
Austerity: The History of a Dangerous Idea
Governments today in both Europe and the United States have succeeded in casting government spending as reckless wastefulness that has made the economy worse.Austerity review. In contrast, they have advanced a policy of draconian budget cuts--austerity--to solve the financial crisis. We are told that we have all lived beyond our means and now need to tighten our belts. This view conveniently forgets where all that debt came from. Not from an orgy of government spending, but as the direct result of bailing out, recapitalizing, and adding liquidity to the broken banking systemRead full reviews of Austerity gecko Bumper Stickers.
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Backsliders and Apostates Will Burn
Bumper Sticker. Austerity shrinks the economy. It makes geckos out of crocodiles!
The Austerity Program: Justin Foley (vocals, guitar); Thad Calabrese (bass). Recorded at Fordham Evangelical Lutheran Church, Bronx, New York. Recording information: Fordham Evangelical Lutheran Church, The Bronx, New Yor. Author: Bobby Paige.
New CD.
Review 'What the global automotive industry needs right now is ideas and this book is packed with them. Dr Wells is a master of turning a topic on its head in order to approach it from an angle that is both unique and enlightening. This book should be required reading for decision makers within the automakers, suppliers and governments, whose job it will be to shape the auto industry of tomorrow.' - Gareth Owen Davies, AutomotiveWorld.com'A splendid analysis of how an automotive industry based on mass production has become an alien in our time - where diversity and personalised products and se
Austerity Reviews
In contrast, they have advanced a policy of draconian budget cuts--austerity--to solve the financial crisis. We are told that we have all lived beyond our means and now need to tighten our belts. This view conveniently forgets where all that debt came from. Not from an orgy of government spending, but as the direct result of bailing out, recapitalizing, and adding liquidity to the broken banking system. Through these actions private debt was rechristened as government debt while those responsible for generating it walked away scot free, placing the blame on the state, and the burden on the taxpayer.
That burden now takes the form of a global turn to austerity, the policy of reducing domestic wages and prices to restore competitiveness and balance the budget. The problem, according to political economist Mark Blyth, is that austerity is a very dangerous idea. First of all, it doesn't work. As the past four years and countless historical examples from the last 100 years show, while it makes sense for any one state to try and cut its way to growth, it simply cannot work when all states try it simultaneously: all we do is shrink the economy. In the worst case, austerity policies worsened the Great Depression and created the conditions for seizures of power by the forces responsible for the Second World War: the Nazis and the Japanese military establishment. As Blyth amply demonstrates, the arguments for austerity are tenuous and the evidence thin. Rather than expanding growth and opportunity, the repeated revival of this dead economic idea has almost always led to low growth along with increases in wealth and income inequality. Austerity demolishes the conventional wisdom, marshaling an army of facts to demand that we recognize austerity for what it is, and what it costs us.
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