Austerity :: the history of a dangerous idea /
"Conservatives 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...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Oxford ; New York :
Oxford University Press,
2013.
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "Conservatives 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."--Provided by publisher. |
| Beschreibung: | 1 online resource |
| Bibliographie: | Includes bibliographical references and index. |
| ISBN: | 9780199828319 0199828318 9780199939091 0199939098 |
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| 100 | 1 | |a Blyth, Mark, |d 1967- |e author. |1 https://id.oclc.org/worldcat/entity/E39PBJf8yT4qTrgdBX3pTX6VG3 |0 http://id.loc.gov/authorities/names/n2002100994 | |
| 245 | 1 | 0 | |a Austerity : |b the history of a dangerous idea / |c Mark Blyth. |
| 264 | 1 | |a Oxford ; |a New York : |b Oxford University Press, |c 2013. | |
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| 504 | |a Includes bibliographical references and index. | ||
| 505 | 0 | |a A primer on austerity, debt, and morality plays -- America : too big to fail? : bankers, bailouts, and blaming the state -- Europe : too big to bail : the politics of permanent austerity -- Introduction to chapters 4, 5, and 6: Austerity's intellectual and natural histories -- The intellectual history of a dangerous idea, 1642-1942 -- The intellectual history of a dangerous idea, 1942-2012 -- Austerity's natural history, 1914-2012 -- The end of banking, new tales, and a taxing time ahead. | |
| 520 | |a "Conservatives 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."--Provided by publisher. | ||
| 588 | 0 | |a Print version record. | |
| 650 | 0 | |a Debts, Public. |0 http://id.loc.gov/authorities/subjects/sh85036141 | |
| 650 | 0 | |a Budget deficits. |0 http://id.loc.gov/authorities/subjects/sh85017606 | |
| 650 | 0 | |a Financial crises. | |
| 650 | 0 | |a Economic policy. |0 http://id.loc.gov/authorities/subjects/sh85040837 | |
| 650 | 0 | |a Fiscal policy. |0 http://id.loc.gov/authorities/subjects/sh85048601 | |
| 650 | 0 | |a Economic development. |0 http://id.loc.gov/authorities/subjects/sh85040804 | |
| 650 | 0 | |a Income. |0 http://id.loc.gov/authorities/subjects/sh85064759 | |
| 650 | 6 | |a Dettes publiques. | |
| 650 | 6 | |a Déficit budgétaire. | |
| 650 | 6 | |a Politique économique. | |
| 650 | 6 | |a Politique fiscale. | |
| 650 | 6 | |a Développement économique. | |
| 650 | 6 | |a Revenu. | |
| 650 | 7 | |a economic development. |2 aat | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Public Finance. |2 bisacsh | |
| 650 | 7 | |a Budget deficits |2 fast | |
| 650 | 7 | |a Debts, Public |2 fast | |
| 650 | 7 | |a Economic development |2 fast | |
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Datensatz im Suchindex
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| author | Blyth, Mark, 1967- |
| author_GND | http://id.loc.gov/authorities/names/n2002100994 |
| author_facet | Blyth, Mark, 1967- |
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| contents | A primer on austerity, debt, and morality plays -- America : too big to fail? : bankers, bailouts, and blaming the state -- Europe : too big to bail : the politics of permanent austerity -- Introduction to chapters 4, 5, and 6: Austerity's intellectual and natural histories -- The intellectual history of a dangerous idea, 1642-1942 -- The intellectual history of a dangerous idea, 1942-2012 -- Austerity's natural history, 1914-2012 -- The end of banking, new tales, and a taxing time ahead. |
| ctrlnum | (OCoLC)828869662 |
| dewey-full | 336 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 336 - Public finance |
| dewey-raw | 336 |
| dewey-search | 336 |
| dewey-sort | 3336 |
| dewey-tens | 330 - Economics |
| discipline | Politologie Wirtschaftswissenschaften |
| format | Electronic eBook |
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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. 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| indexdate | 2024-11-27T13:25:12Z |
| institution | BVB |
| isbn | 9780199828319 0199828318 9780199939091 0199939098 |
| language | English |
| lccn | 2012046882 |
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| spelling | Blyth, Mark, 1967- author. https://id.oclc.org/worldcat/entity/E39PBJf8yT4qTrgdBX3pTX6VG3 http://id.loc.gov/authorities/names/n2002100994 Austerity : the history of a dangerous idea / Mark Blyth. Oxford ; New York : Oxford University Press, 2013. 1 online resource text txt rdacontent computer c rdamedia online resource cr rdacarrier data file rda Includes bibliographical references and index. A primer on austerity, debt, and morality plays -- America : too big to fail? : bankers, bailouts, and blaming the state -- Europe : too big to bail : the politics of permanent austerity -- Introduction to chapters 4, 5, and 6: Austerity's intellectual and natural histories -- The intellectual history of a dangerous idea, 1642-1942 -- The intellectual history of a dangerous idea, 1942-2012 -- Austerity's natural history, 1914-2012 -- The end of banking, new tales, and a taxing time ahead. "Conservatives 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."--Provided by publisher. Print version record. Debts, Public. http://id.loc.gov/authorities/subjects/sh85036141 Budget deficits. http://id.loc.gov/authorities/subjects/sh85017606 Financial crises. Economic policy. http://id.loc.gov/authorities/subjects/sh85040837 Fiscal policy. http://id.loc.gov/authorities/subjects/sh85048601 Economic development. http://id.loc.gov/authorities/subjects/sh85040804 Income. http://id.loc.gov/authorities/subjects/sh85064759 Dettes publiques. Déficit budgétaire. Politique économique. Politique fiscale. Développement économique. Revenu. economic development. aat BUSINESS & ECONOMICS Public Finance. bisacsh Budget deficits fast Debts, Public fast Economic development fast Economic policy fast Financial crises fast Fiscal policy fast Income fast Electronic book. has work: Austerity (Text) https://id.oclc.org/worldcat/entity/E39PCH4QQcDXxjdv449RF6qgjC https://id.oclc.org/worldcat/ontology/hasWork Print version: Blyth, Mark, 1967- Austerity. Oxford : Oxford University Press, [2013] 9780199828302 (DLC) 2012046882 (OCoLC)754720534 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=544269 Volltext |
| spellingShingle | Blyth, Mark, 1967- Austerity : the history of a dangerous idea / A primer on austerity, debt, and morality plays -- America : too big to fail? : bankers, bailouts, and blaming the state -- Europe : too big to bail : the politics of permanent austerity -- Introduction to chapters 4, 5, and 6: Austerity's intellectual and natural histories -- The intellectual history of a dangerous idea, 1642-1942 -- The intellectual history of a dangerous idea, 1942-2012 -- Austerity's natural history, 1914-2012 -- The end of banking, new tales, and a taxing time ahead. Debts, Public. http://id.loc.gov/authorities/subjects/sh85036141 Budget deficits. http://id.loc.gov/authorities/subjects/sh85017606 Financial crises. Economic policy. http://id.loc.gov/authorities/subjects/sh85040837 Fiscal policy. http://id.loc.gov/authorities/subjects/sh85048601 Economic development. http://id.loc.gov/authorities/subjects/sh85040804 Income. http://id.loc.gov/authorities/subjects/sh85064759 Dettes publiques. Déficit budgétaire. Politique économique. Politique fiscale. Développement économique. Revenu. economic development. aat BUSINESS & ECONOMICS Public Finance. bisacsh Budget deficits fast Debts, Public fast Economic development fast Economic policy fast Financial crises fast Fiscal policy fast Income fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85036141 http://id.loc.gov/authorities/subjects/sh85017606 http://id.loc.gov/authorities/subjects/sh85040837 http://id.loc.gov/authorities/subjects/sh85048601 http://id.loc.gov/authorities/subjects/sh85040804 http://id.loc.gov/authorities/subjects/sh85064759 |
| title | Austerity : the history of a dangerous idea / |
| title_auth | Austerity : the history of a dangerous idea / |
| title_exact_search | Austerity : the history of a dangerous idea / |
| title_full | Austerity : the history of a dangerous idea / Mark Blyth. |
| title_fullStr | Austerity : the history of a dangerous idea / Mark Blyth. |
| title_full_unstemmed | Austerity : the history of a dangerous idea / Mark Blyth. |
| title_short | Austerity : |
| title_sort | austerity the history of a dangerous idea |
| title_sub | the history of a dangerous idea / |
| topic | Debts, Public. http://id.loc.gov/authorities/subjects/sh85036141 Budget deficits. http://id.loc.gov/authorities/subjects/sh85017606 Financial crises. Economic policy. http://id.loc.gov/authorities/subjects/sh85040837 Fiscal policy. http://id.loc.gov/authorities/subjects/sh85048601 Economic development. http://id.loc.gov/authorities/subjects/sh85040804 Income. http://id.loc.gov/authorities/subjects/sh85064759 Dettes publiques. Déficit budgétaire. Politique économique. Politique fiscale. Développement économique. Revenu. economic development. aat BUSINESS & ECONOMICS Public Finance. bisacsh Budget deficits fast Debts, Public fast Economic development fast Economic policy fast Financial crises fast Fiscal policy fast Income fast |
| topic_facet | Debts, Public. Budget deficits. Financial crises. Economic policy. Fiscal policy. Economic development. Income. Dettes publiques. Déficit budgétaire. Politique économique. Politique fiscale. Développement économique. Revenu. economic development. BUSINESS & ECONOMICS Public Finance. Budget deficits Debts, Public Economic development Economic policy Financial crises Fiscal policy Income Electronic book. |
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| work_keys_str_mv | AT blythmark austeritythehistoryofadangerousidea |