The Paradox Of Fiscal Austerity
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The Paradox Of Fiscal Austerity
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Author : Velez-Hagan Justin
language : en
Publisher:
Release Date : 2019-12-12
The Paradox Of Fiscal Austerity written by Velez-Hagan Justin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-12 with categories.
If governments followed the optimal fiscal policy path, surpluses in good times would counter necessary deficits during economic downturns, leading to worldwide balance. The world, however, has chosen to go in a different direction in recent decades, avoiding thrift in light of a decidedly more indebted future. When financial crises kicked off a global recession in 2008, the spotlight placed on countries' fiscal conditions put pressure on policymakers around the globe to find a way to slow the growth of deficits and debt by imposing fiscal consolidations (or, more simply, austerity). How have these policies fared across the developed world? Were they even necessary to begin with? This book examines the many factors that have contributed to the success (or failure) of such policies, including timing, magnitude, accompanying policies, composition, and more, while explaining the economic rationale behind their choices.
The Austerity Paradox
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Author : Tom Overmans
language : en
Publisher:
Release Date : 2019
The Austerity Paradox written by Tom Overmans and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Political Science categories.
This book studies how municipalities (can) deal with fiscal stress. It applies an institutional perspective, arguing that municipalities can move beyond a fiscal focus and performance optimization, towards building institutional capacities to innovatively deal with fiscal crises. The book shows that many municipalities mainly opt for safe financial measures with quick results. It also shows, however, that some municipalities do invest in seeking new measures, and that they deal differently with the current crisis and create leeway to deal differently with future crises. They bend and stretch constraining rules, norms, and beliefs. More innovative responses are established when municipalities move beyond dominant doctrines (deviate), when they identify and translate potential innovations into concise decisions (decipher), and when they perform dynamic acts of implementation that fit the context of austerity (deliver). The book concludes with an emphasis on the 'austerity paradox': opting for financially driven austerity actions does not enable municipalities to deal with fiscal crises. Municipalities can bounce forward by opting for alternative solutions that pay attention to the non-financial aspects of dealing with financial crises, most specifically knowledge, routines, cultures and mentalities.
Austerity
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Author : Alberto Alesina
language : en
Publisher: Princeton University Press
Release Date : 2020-12
Austerity written by Alberto Alesina and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12 with Business & Economics categories.
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.
Fiscal Austerity
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Author : Malcolm Charles Sawyer
language : en
Publisher:
Release Date : 2012
Fiscal Austerity written by Malcolm Charles Sawyer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Financial crises categories.
Austerity
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Author : Mark Blyth
language : en
Publisher: Oxford University Press
Release Date : 2015
Austerity written by Mark Blyth and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Business & Economics categories.
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.
The Contradictions Of Austerity
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Author : Jeffrey Sommers
language : en
Publisher: Routledge
Release Date : 2014-04-24
The Contradictions Of Austerity written by Jeffrey Sommers and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-24 with Business & Economics categories.
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.
Productivity And The Pandemic
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Author : Philip McCann
language : en
Publisher: Edward Elgar Publishing
Release Date : 2021-01-29
Productivity And The Pandemic written by Philip McCann and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-29 with Business & Economics categories.
This forward-thinking book examines the potential impacts of the Covid-19 pandemic on productivity. Productivity and the Pandemic features 21 chapters authored by 46 experts, examining different aspects of how the pandemic is likely to impact on the economy, society and governance in the medium- and long-term. Drawing on a range of empirical evidence, analytical arguments and new conceptual insights, the book challenges our thinking on many dimensions. With a keen focus on place, firms, production factors and institutions, the chapters highlight how the pre-existing challenges to productivity have been variously exacerbated and mitigated by the pandemic and points out ways forward for appropriate policy thinking in response to the crisis.
The Neoliberal Paradox
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Author : Ray Kiely
language : en
Publisher: Edward Elgar Publishing
Release Date : 2018-03-30
The Neoliberal Paradox written by Ray Kiely and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-30 with Business & Economics categories.
This ambitious work provides a history and critique of neoliberalism, both as a body of ideas and as a political practice. It is an original and compelling contribution to the neoliberalism debate.
Nationalism And Democracy In The Welfare State
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Author : Kettunen, Pauli
language : en
Publisher: Edward Elgar Publishing
Release Date : 2022-01-11
Nationalism And Democracy In The Welfare State written by Kettunen, Pauli and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-11 with Political Science categories.
This multidisciplinary book unpacks and outlines the contested roles of nationalism and democracy in the formation and transformation of welfare-state institutions and ideologies. At a time when neo-liberal, post-national and nationalist visions alike have challenged democratic welfare nationalism, the book offers a transnational historical perspective to the political dynamics of current changes. While particularly focusing on Nordic countries, often seen as the quintessential ‘models’ of the welfare state, the book collectively sheds light on the ‘history of the present’ of nation states bearing the character of a welfare state.
Against Austerity
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Author : Richard Seymour
language : en
Publisher: Pluto Press
Release Date : 2014-03-20
Against Austerity written by Richard Seymour and has been published by Pluto Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-20 with Political Science categories.
Against Austerity is a blistering, accessible and invigorating polemic against the current political consensus. Deploying his renowned power of razor-sharp polemic Richard Seymour charts the role of austerity in radically reducing living standards, fracturing established political structures, and creating simmering social alienation and explosions of discontent. But Against Austerity goes further – making a bold theoretical intervention on the question of challenging austerity and creating radical alternatives. Beginning with an analysis of current class formation and dominant ideology, Seymour issues a call to arms, mapping a new strategy to unite the left. Along the way, he tackles the vexed question of achieving social change, in particular issues of reform and social revolution. In an age characterised by the paucity and inadequacy of mainstream analysis, Against Austerity points a way forward to revive the left and create a new spirit of collective resistance.