Coverart for item
The Resource Austerity : the history of a dangerous idea, Mark Blyth

Austerity : the history of a dangerous idea, Mark Blyth

Label
Austerity : the history of a dangerous idea
Title
Austerity
Title remainder
the history of a dangerous idea
Statement of responsibility
Mark Blyth
Creator
Subject
Genre
Language
eng
Summary
Politicians 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 recognize austerity for what it is, and what it costs us
http://library.link/vocab/ext/novelist/bookUI
10173757
Cataloging source
DLC
http://library.link/vocab/creatorDate
1967-
http://library.link/vocab/creatorName
Blyth, Mark
Dewey number
336
Index
index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/resourcePreferred
True
http://library.link/vocab/subjectName
  • Budget deficits
  • Fiscal policy
  • Economic development
  • Economic policy
  • Financial crises
  • Income
  • Debts, Public
Target audience
adult
http://bibfra.me/vocab/lite/titleRemainder
the history of a dangerous idea
Label
Austerity : the history of a dangerous idea, Mark Blyth
Instantiates
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Content category
text
Contents
Machine generated contents note: 1.A Primer on Austerity, Debt, and Morality Plays -- pt. One Why We All Need to Be Austere -- 2.America: Too Big to Fail? -- Bankers, Bailouts, and Blaming the State -- 3.Europe---Too Big to Bail -- The Politics of Permanent Austerity -- pt. Two Austerity's Twin Histories -- Introduction to Chapters 4, 5, and 6 -- Austerity's Intellectual and Natural Histories -- 4.The Intellectual History of a Dangerous Idea, 1692-1942 -- 5.The Intellectual History of a Dangerous Idea, 1942-2012 -- 6.Austerity's Natural History, 1914-2012 -- pt. Three Conclusion -- 7.The End of Banking, New Tales, and a Taxing Time Ahead
Control code
000050253353
Dimensions
23 cm.
Extent
xiii, 288 pages
Isbn
9780199828302
Isbn Type
(hardback : alk. paper)
Lccn
2012046882
System control number
(OCoLC)754720534
Label
Austerity : the history of a dangerous idea, Mark Blyth
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Content category
text
Contents
Machine generated contents note: 1.A Primer on Austerity, Debt, and Morality Plays -- pt. One Why We All Need to Be Austere -- 2.America: Too Big to Fail? -- Bankers, Bailouts, and Blaming the State -- 3.Europe---Too Big to Bail -- The Politics of Permanent Austerity -- pt. Two Austerity's Twin Histories -- Introduction to Chapters 4, 5, and 6 -- Austerity's Intellectual and Natural Histories -- 4.The Intellectual History of a Dangerous Idea, 1692-1942 -- 5.The Intellectual History of a Dangerous Idea, 1942-2012 -- 6.Austerity's Natural History, 1914-2012 -- pt. Three Conclusion -- 7.The End of Banking, New Tales, and a Taxing Time Ahead
Control code
000050253353
Dimensions
23 cm.
Extent
xiii, 288 pages
Isbn
9780199828302
Isbn Type
(hardback : alk. paper)
Lccn
2012046882
System control number
(OCoLC)754720534

Library Locations

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      -33.9151421 151.2408898
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