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📒Austerity ✍ Alberto Alesina
✏Austerity Book Summary : A timely and incisive 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. In this masterful book, three of today’s leading policy experts cut through the political noise to demonstrate that there is not one type of austerity but many. Looking at thousands of fiscal measures adopted by sixteen advanced economies since the late 1970s, Austerity assesses the relative effectiveness of tax increases and spending cuts at reducing debt. It shows that spending cuts have much smaller costs in terms of output losses than tax increases. Spending cuts can sometimes be associated with output gains in the case of expansionary austerity and are much more successful than tax increases at reducing the growth of debt. The authors also show that austerity is not necessarily the kiss of death for political careers as is often believed, and provide new insights into the recent cases of European austerity after the financial crisis. Bringing needed clarity to one of today’s most challenging subjects, Austerity charts a sensible approach based on data analysis rather than ideology.
📒Austerity ✍ Mark Blyth
✏Austerity Book Summary : 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 recognize austerity for what it is, and what it costs us.
📒Austerity ✍ Bryan M. Evans
✏Austerity Book Summary : 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.
📒The Austerity State ✍ Stephen McBride
✏The Austerity State Book Summary : "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."--
📒Austerity ✍ Yanis Varoufakis
✏Austerity Book Summary : VINTAGE MINIS: GREAT MINDS. BIG IDEAS. LITTLE BOOKS. How do we choose between what is fair and just, and what our debtors demand of us? Yanis Varoufakis was put in such a dilemma in 2015 when he became the finance minister of Greece. In this rousing book, he charts the absurdities that underpin calls for austerity, as well as his own battles with a bureaucracy bent on ignoring the human cost of its every action. Passionately outspoken and tuned to the voices of the oppressed, Varoufakis presents a guide to modern economics, and its threat to democracy, like no other. Selected from the books And the Weak Suffer What They Must? and Adults in the Room
📒Austerity In Britain ✍ Ina Zweiniger-Bargielowska
✏Austerity in Britain Book Summary : Austerity in Britain is the first book to explore the entire episode of rationing, austerity, and fair shares from 1939 until 1955. These policies were central to the British war effort and to post-war reconstruction. The book analyses the connections between government policy, consumption, gender, and party politics during and after the Second World War. The economic background to austerity, the policy's administration, and changes in consumption standards are examined. Rationing resulted in at times extensive black markets and popular attitudes to the policy ranged from wartime acquiescence to post-war discontent. Austerity in Britain qualifies the myth of common sacrifice on the home front and highlights the limitations of the fair-shares policy which failed to achieve genuine equality between classes or between men and women. The continuation of rationing and austerity policies after 1945 was central to party politics. Disaffection, particularly among women, undermined Labour's popularity while the Conservatives' critique of austerity was instrumental to the party's victories at the general elections of 1951 and 1955.
📒Austerity Business ✍ Alex Pratt
✏Austerity Business Book Summary : "These tips are worth their weight in gold to businesses of all sizes." —Peter Jones, CBE, Entrepreneur and star of TV's Dragon's Den For any business, less really can be more. We all face new, austere times. Whether starting up, surviving or seeking to dominate its niche, every business needs to adjust. Based on years of real business experience, this book shows you how. From reinvigorating staff with Dunkirk spirit, to building revenues on a shoestring, this book tells you where to cut and where to keep spending. Packed with witty anecdotes, inspirational quotes and common sense advice, Austerity Business is a reinvigorating read for any business leader sworn down by daily bad news – the age of austerity really can be about thriving, not just surviving.
📒Austerity Community Action And The Future Of Citizenship ✍ Cohen, Shana
✏Austerity Community Action and the Future of Citizenship Book Summary : Explores secular and faith-based grassroots social action in Germany and the UK that has evolved in response to the shrinking of the welfare state. The book provides new ways of thinking about social and political belonging and about the relations between individual, collective and State responsibility.
📒Austerity ✍ Suzanne J. Konzelmann
✏Austerity Book Summary : Austerity has been at the center of political controversy following the 2008 financial crisis, invoked by politicians and academics across the political spectrum as the answer to, or cause of, our post-crash economic malaise. However, despite being the cause of debate for more than three centuries, austerity remains a poorly understood concept. In this book, Suzanne J. Konzelmann aims to demystify austerity as an economic policy, a political idea, and a social phenomenon. Beginning with an analysis of political and socioeconomic history from the seventeenth century, she explains the economics of austerity in the context of the overall dynamics of state spending, tax, and debt. Using comparative case studies from around the world, ranging from the 1930s to post-2008, she then evaluates the outcomes of austerity in light of its stated objectives and analyzes the conditions under which it doesn’t – and occasionally does – work. This accessible introduction to austerity will be essential reading for students and scholars of political economy, economics, and politics, as well as all readers interested in current affairs.
📒Austerity ✍ Kerry-anne Mendoza
✏Austerity Book Summary : 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.