Mark Blyth
Austerity: The History of a Dangerous Idea
- ISBN 13:
- 9780199389445
- author:
- Mark Blyth
- format:
- Paperback
- publisher:
- Oxford University Press
- language:
- English
- Publication Year:
- 2015
- Pages:
- 336
- Dimensions:
- 21.3 x 2.8 x 14 cm
- Genre:
- Business, Finance & Law, Economics, Economic Conditions
- Condition:
- New
- Availability:
- Item usually sent within 10 working days
Description
Austerity: The History of a Dangerous Idea by Mark Blyth The idea of austerity has become a dominant force in economic policy, with governments in Europe and the US advocating for drastic cuts to public spending and social welfare. However, this approach conveniently forgets the true source of the debt crisis: the bailouts and recapitalization of the banking system. By rechristening private debt as government debt, those responsible for generating it walked away scot-free, placing the burden on the taxpayer. The problem with austerity is that it doesn't work. In fact, it can have devastating consequences, including shrinking the economy and exacerbating the Great Depression. Mark Blyth, a leading political economist, argues that the arguments for austerity are tenuous and the evidence thin. Through a comprehensive analysis of historical examples and current events, Blyth demonstrates that austerity is a policy that can only be successful in isolation, but has no place in a global economy. Blyth's book provides a timely and insightful critique of the austerity agenda, shedding light on the dangers of this policy and its consequences for the economy and society.
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