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The Austerity State
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Book Synopsis The Austerity State by : Stephen McBride
Download or read book The Austerity State written by Stephen McBride and published by University of Toronto Press. This book was released on 2017-01-01 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This volume focuses on the state's role in managing the fall-out from the global economic and financial crisis since 2008. For a brief moment, roughly from 2008-2010, governments and central banks appeared to borrow from Keynes to save the global economy. The contributors, however, take the view that to see those stimulus measures as "Keynesian" is a misinterpretation. Rather, neoliberalism demonstrated considerable resiliency despite its responsibility for the deep and prolonged crisis. The "austerian" analysis of the crisis is--historical, ignores its deeper roots, and rests upon a triumph of discourse involving blame-shifting from the under-regulated private sector to public or sovereign debt--for which the public authorities are responsible."--
Book Synopsis Euro-Austerity and Welfare States by : H. Tolga Bolukbasi
Download or read book Euro-Austerity and Welfare States written by H. Tolga Bolukbasi and published by University of Toronto Press. This book was released on 2021 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Weighing in on the euro-austerity debate, this book uses case studies from three countries to evaluate the distinctive politics of fiscal policy and welfare state reform during a key period in Europe.
Download or read book Austerity written by Mark Blyth and published by Oxford University Press. This book was released on 2015 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected as a Financial Times Best Book of 2013 Governments today in both Europe and the United States have succeeded in casting government spending as reckless wastefulness that has made the economy worse. 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 austerity for what it is, and what it costs us.
Book Synopsis Politics in the Age of Austerity by : Wolfgang Streeck
Download or read book Politics in the Age of Austerity written by Wolfgang Streeck and published by John Wiley & Sons. This book was released on 2013-05-09 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a world of increasing austerity measures, democratic politics comes under pressure. With the need to consolidate budgets and to accommodate financial markets, the responsiveness of governments to voters declines. However, democracy depends on choice. Citizens must be able to influence the course of government through elections and if a change in government cannot translate into different policies, democracy is incapacitated. Many mature democracies are approaching this situation as they confront fiscal crisis. For almost three decades, OECD countries have - in fits and starts - run deficits and accumulated debt. As a result, an ever smaller part of government revenue is available today for discretionary spending and social investment and whichever party comes into office will find its hands tied by past decisions. The current financial and fiscal crisis has exacerbated the long-term shrinking government discretion; projects for political change have lost credibility. Many citizens are aware of this situation: they turn away from party politics and stay at home on Election Day. With contributions from leading scholars in the forefront of sociology, politics and economics, this timely book will be of great interest to students and scholars throughout the social sciences as well as general readers.
Book Synopsis Cities under Austerity by : Mark Davidson
Download or read book Cities under Austerity written by Mark Davidson and published by State University of New York Press. This book was released on 2018-02-01 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the ways in which austerity policies are transforming US cities. Across the world’s most industrialized economies, the financial crisis of 2007 caused a contraction of state budgets and stimulated attempts to reform debt-burdened governments. In the United States, a system of fiscal federalism meant this turn towards austerity took a uniquely fragmented and geographically diverse form. Drawing on case studies of recent urban restructuring, Cities under Austerity challenges dominant understandings of austerity as a distinctly national condition and develops a conceptualization of the new US urban condition that reveals its emerging political and social fault lines. The contributors empirically detail the restructuring that is taking place across the United States, its underlying logics, its local impacts and the ongoing processes of challenge and resistance that influences how it is shaping the lives of citizens. The new American political economy, it is argued, needs to be understood as composed of a mosaic of urban experiences that both build upon a differentiated foundation and creates new divergences. As state reforms continue to interact with this diverse urban political economy of the United States, this collection provides a state-of-the-art survey on how postcrisis convergences and divergences in urban economies and urban politics have laid the foundations for the new political geography of the United States. Mark Davidson is Associate Professor of Urban Geography at Clark University and the coeditor (with Deborah Martin) of Urban Politics: Critical Approaches. Kevin Ward is Professor of Human Geography at the University of Manchester, United Kingdom and the coeditor (with Eugene McCann) of Mobile Urbanism: Cities and Policymaking in the Global Age.
Book Synopsis Composition in the Age of Austerity by : Nancy Welch
Download or read book Composition in the Age of Austerity written by Nancy Welch and published by University Press of Colorado. This book was released on 2016-04-01 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the face of the gradual saturation of US public education by the logics of neoliberalism, educators often find themselves at a loss to respond, let alone resist. Through state defunding and many other “reforms” fueled by austerity politics, a majority of educators are becoming casual labor in US universities while those who hang onto secure employment are pressed to act as self-supporting entrepreneurs or do more with less. Focusing on the discipline of writing studies, this collection addresses the sense of crisis that many educators experience in this age of austerity. The chapters in this book chronicle how neoliberal political economy shapes writing assessments, curricula, teacher agency, program administration, and funding distribution. Contributors also focus on how neoliberal political economy dictates the direction of scholarship, because the economic and political agenda shaping the terms of work, the methods of delivery, and the ways of valuing and assessing writing also shape the primary concerns and directions of scholarship. Composition in the Age of Austerity offers critical accounts of how the restructuring of higher education is shaping the daily realities of composition programs. The book documents the effects and implications of the current restructuring, examines how cherished rhetorical ideals actually leave the field unprepared to respond effectively to defunding and corporatizing trends, and establishes points of departure for collective response.
Download or read book Austerity written by Bryan M. Evans and published by University of Toronto Press. This book was released on 2017-01-01 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bryan M. Evans, Stephen McBride, and their contributors delve further into the more practical, ground-level side of the austerity equation in Austerity: The Lived Experience. Economically, austerity policies cannot be seen to work in the way elite interests claim that they do. Rather than soften the blow of the economic and financial crisis of 2008 for ordinary citizens, policies of austerity slow growth and lead to increased inequality. While political consent for such policies may have been achieved, it was reached amidst significant levels of disaffection and strong opposition to the extremes of austerity. The authors build their analysis in three sections, looking alternatively at theoretical and ideological dimensions of the lived experience of austerity; how austerity plays out in various public sector occupations and policy domains; and the class dimensions of austerity. The result is a ground-breaking contribution to the study of austerity politics and policies.
Download or read book Austerity written by Kerry-anne Mendoza and published by New Internationalist. This book was released on 2014-11-21 with total page 999 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the last five years, Britain has been under the hammer of ‘Austerity’. In its name, wages have been frozen, benefits have been slashed and public spending squeezed. The pain of a financial crisis caused by bankers and speculators has been borne by ordinary people all over the country – and by the poor and disabled most of all.
Book Synopsis Welfare State Legitimacy in Times of Crisis and Austerity by : Tijs Laenen
Download or read book Welfare State Legitimacy in Times of Crisis and Austerity written by Tijs Laenen and published by Edward Elgar Publishing. This book was released on 2020-08-28 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Has there been change or continuity in the welfare attitudes of Europeans since the 2008 financial crisis? Using data from the European Social Survey, this book reveals how various types of welfare attitudes evolved between 2008, when the crisis triggered economic recessions and welfare reforms across Europe, and 2016, when most countries had largely recovered from that crisis.
Download or read book Austerity written by Mark Blyth and published by Oxford University Press. This book was released on 2013-03-27 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected as a Financial Times Best Book of 2013 Governments today in both Europe and the United States have succeeded in casting government spending as reckless wastefulness that has made the economy worse. 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 austerity for what it is, and what it costs us.
Download or read book Austerity written by Alberto Alesina and published by Princeton University Press. This book was released on 2020-12 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: A revealing look at austerity measures that succeed—and those that don't Fiscal austerity is hugely controversial. Opponents argue that it can trigger downward growth spirals and become self-defeating. Supporters argue that budget deficits have to be tackled aggressively at all times and at all costs. Bringing needed clarity to one of today's most challenging economic issues, three leading policy experts cut through the political noise to demonstrate that there is not one type of austerity but many. Austerity assesses the relative effectiveness of tax increases and spending cuts at reducing debt, shows that austerity is not necessarily the kiss of death for political careers as is often believed, and charts a sensible approach based on data analysis rather than ideology.
Download or read book Debtors' Prison written by Robert Kuttner and published by Vintage. This book was released on 2013-04-30 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of our foremost economic thinkers challenges a cherished tenet of today’s financial orthodoxy: that spending less, refusing to forgive debt, and shrinking government—“austerity”—is the solution to a persisting economic crisis like ours or Europe’s, now in its fifth year. Since the collapse of September 2008, the conversation about economic recovery has centered on the question of debt: whether we have too much of it, whose debt to forgive, and how to cut the deficit. These questions dominated the sound bites of the 2012 U.S. presidential election, the fiscal-cliff debates, and the perverse policies of the European Union. Robert Kuttner makes the most powerful argument to date that these are the wrong questions and that austerity is the wrong answer. Blending economics with historical contrasts of effective debt relief and punitive debt enforcement, he makes clear that universal belt-tightening, as a prescription for recession, defies economic logic. And while the public debt gets most of the attention, it is private debts that crashed the economy and are sandbagging the recovery—mortgages, student loans, consumer borrowing to make up for lagging wages, speculative shortfalls incurred by banks. As Kuttner observes, corporations get to use bankruptcy to walk away from debts. Homeowners and small nations don’t. Thus, we need more public borrowing and investment to revive a depressed economy, and more forgiveness and reform of the overhang of past debts. In making his case, Kuttner uncovers the double standards in the politics of debt, from Robinson Crusoe author Daniel Defoe’s campaign for debt forgiveness in the seventeenth century to the two world wars and Bretton Woods. Just as debtors’ prisons once prevented individuals from surmounting their debts and resuming productive life, austerity measures shackle, rather than restore, economic growth—as the weight of past debt crushes the economy’s future potential. Above all, Kuttner shows how austerity serves only the interest of creditors—the very bankers and financial elites whose actions precipitated the collapse. Lucid, authoritative, provocative—a book that will shape the economic conversation and the search for new solutions.
Book Synopsis The Contradictions of Austerity by : Jeffrey Sommers
Download or read book The Contradictions of Austerity written by Jeffrey Sommers and published by Routledge. This book was released on 2014-04-24 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: The great financial crisis of 2008 and the ensuing global economic and financial turmoil have launched a search for "models" for recovery. The advocates of austerity present the Baltic States as countries that through discipline and sacrifice showed the way out of crisis. They have proposed the "Baltic model" of radical public sector cuts, wage reductions, labor market reforms and reductions in living standards for other troubled Eurozone countries to emulate. Yet, the reality of the Baltic "austerity fix" has been neither fully accepted by its peoples, nor is it fully a success. This book explains why and what are the real social and economic costs of the Baltic austerity model. We examine each of the Baltic States by connecting national level studies within a European and global political economy, thereby delivering comparative breadth that supersedes localized understandings of the crisis. Thus for each of the three Baltic states, individual chapters explore the different economic and social dimensions of neo-liberal post-communism and the subsequent wider global economic and financial crisis in which these newly financialized economies have found themselves especially vulnerable. The "austerity model" adopted by Baltic national governments in response to the crisis reveals the profound vulnerabilities created by their unwavering commitment to liberalized economies, not least in terms of the significant "exit" of their labor forces and consequent population loss. This book looks beyond basic financial metrics claiming a success story for the Baltic austerity model to reveal the damaging economic and social consequences, first of neo-liberal policies adopted during transition, and latterly of austerity measures based on "internal devaluation." Combined these policies undermine the possibility of longer-term recovery and even social and economic sustainability, not to mention prospects for successful integration in the now-faltering European project that has departed from its "Social Model" roots.
Book Synopsis The Body Economic by : David Stuckler
Download or read book The Body Economic written by David Stuckler and published by Basic Books. This book was released on 2013-05-21 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Politicians have talked endlessly about the seismic economic and social impacts of the recent financial crisis, but many continue to ignore its disastrous effects on human health—and have even exacerbated them, by adopting harsh austerity measures and cutting key social programs at a time when constituents need them most. The result, as pioneering public health experts David Stuckler and Sanjay Basu reveal in this provocative book, is that many countries have turned their recessions into veritable epidemics, ruining or extinguishing thousands of lives in a misguided attempt to balance budgets and shore up financial markets. Yet sound alternative policies could instead help improve economies and protect public health at the same time. In The Body Economic, Stuckler and Basu mine data from around the globe and throughout history to show how government policy becomes a matter of life and death during financial crises. In a series of historical case studies stretching from 1930s America, to Russia and Indonesia in the 1990s, to present-day Greece, Britain, Spain, and the U.S., Stuckler and Basu reveal that governmental mismanagement of financial strife has resulted in a grim array of human tragedies, from suicides to HIV infections. Yet people can and do stay healthy, and even get healthier, during downturns. During the Great Depression, U.S. deaths actually plummeted, and today Iceland, Norway, and Japan are happier and healthier than ever, proof that public wellbeing need not be sacrificed for fiscal health. Full of shocking and counterintuitive revelations and bold policy recommendations, The Body Economic offers an alternative to austerity—one that will prevent widespread suffering, both now and in the future.
Book Synopsis Handbook on Austerity, Populism and the Welfare State by : Bent Greve
Download or read book Handbook on Austerity, Populism and the Welfare State written by Bent Greve and published by Edward Elgar Publishing. This book was released on 2021-05-28 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative Handbook presents the core concepts associated with austerity, retrenchment and populism and explores how they can be used to analyse developments in different welfare states and in specific social policies. Leading experts highlight how these concepts have influenced and changed welfare states around the globe and impacted specific areas including pensions, long-term care, the labour market, taxation, social activism and gender equality.
Book Synopsis The Violence of Austerity by : Vickie Cooper
Download or read book The Violence of Austerity written by Vickie Cooper and published by . This book was released on 2017-05-20 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Austerity, a response to the aftermath of the financial crisis, continues to devastate contemporary Britain.In The Violence of Austerity, Vickie Cooper and David Whyte bring together the voices of campaigners and academics including Danny Dorling, Mary O'Hara and Rizwaan Sabir to show that rather than stimulating economic growth, austerity policies have led to a dismantling of the social systems that operated as a buffer against economic hardship, exposing austerity to be a form of systematic violence.Covering a range of famous cases of institutional violence in Britain, the book argues that police attacks on the homeless, violent evictions in the rented sector, the risks faced by people on workfare schemes, community violence in Northern Ireland and cuts to the regulation of social protection, are all being driven by reductions in public sector funding. The result is a shocking expos� of the myriad ways in which austerity policies harm people in Britain.
Book Synopsis The Age of Austerity by : Thomas J. Schoenbaum
Download or read book The Age of Austerity written by Thomas J. Schoenbaum and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This provocative look at the global financial crisis argues that the United States, the European Union and Japan have intentionally and unwittingly adopted wrong-headed economic policies in a futile attempt to deal with sovereign debt resulting from the global financial crisis. It offers persuasive evidence of how the politics of austerity fail to encourage economic recovery, and proposes instead a number of alternative ideas and solutions. The book begins with a detailed breakdown of the financial crisis and the government response in the United States, with particular focus on the Dodd-Frank Wall Street Reform and Consumer Protection Act. The author then puts forth a basic three-part plan calling for (1) fundamental tax and entitlement reform; (2) massive economic stimulus in the form of public and private investment to modernize the countryÍs aging infrastructures; and (3) mortgage relief to revitalize the nationÍs housing markets. The book concludes with specific policy proposals designed to achieve these goals and return the US economy to a state of full employment and robust economic growth. This timely and insightful volume will appeal to students and scholars of economics, public policy and finance, as well as anyone with an interest in the recent economic history of the United States.
