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The Changing Politics and Policy of Austerity

Author: McBride, Stephen

Publisher: Policy Press

Published: 2021-09-30

Total Pages: 326

ISBN-13: 1447359534

This collection of original essays explores the myriad expressions of austerity since the 2008 financial crisis. Case studies drawn from Canada, Australia and the European Union provide extensive comparative analysis of fiscal consolidation and the varied political responses against austerity. Contributions examine such themes as privatization, class mobilization and resistance, the crisis of liberal democracy and the rise of the far right. The potential impact of the COVID-19 pandemic in shaping future austerity and alternatives is signalled. Given the rapidly shifting terrain, this comprehensive handbook provides important insights into a complex and fast-changing period of politics and policy.

Politics in the Age of Austerity

Author: Wolfgang Streeck

Publisher: John Wiley & Sons

Published: 2013-05-09

Total Pages: 465

ISBN-13: 0745670083

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In a world of increasing austerity measures, democratic politics comes under pressure. With the need to consolidate budgets and to accommodate financial markets, the responsiveness of governments to voters declines. However, democracy depends on choice. Citizens must be able to influence the course of government through elections and if a change in government cannot translate into different policies, democracy is incapacitated. Many mature democracies are approaching this situation as they confront fiscal crisis. For almost three decades, OECD countries have - in fits and starts - run deficits and accumulated debt. As a result, an ever smaller part of government revenue is available today for discretionary spending and social investment and whichever party comes into office will find its hands tied by past decisions. The current financial and fiscal crisis has exacerbated the long-term shrinking government discretion; projects for political change have lost credibility. Many citizens are aware of this situation: they turn away from party politics and stay at home on Election Day. With contributions from leading scholars in the forefront of sociology, politics and economics, this timely book will be of great interest to students and scholars throughout the social sciences as well as general readers.

Austerity

Author: Mark Blyth

Publisher: Oxford University Press

Published: 2015

Total Pages: 305

ISBN-13: 0199389446

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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 Austerity State

Author: Stephen McBride

Publisher: University of Toronto Press

Published: 2017-01-01

Total Pages: 348

ISBN-13: 1487521952

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"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, Welfare and Work

Author: Etherington, David

Publisher: Policy Press

Published: 2020-09-15

Total Pages: 226

ISBN-13: 1447350081

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David Etherington provides bold and fresh perspectives on the link between welfare policy and employment relations as he assesses their fundamental impact on social inequalities. Exploring how reforms, including Universal Credit, have reinforced employment and social insecurity, he assesses the role of NGOs, trade unions and policymakers in challenging this increasingly work-focused welfare agenda. Drawing on international and national case studies, the book reviews developments, including rising job insecurity, low pay and geographical inequalities, considered integral to neoliberal approaches to social spending. Etherington sets out the possibilities and challenges of alternative approaches and progressive new paths for welfare, the labour market and social rights.

Sport Policy and Politics in an Era of Austerity

Author: Dan Parnell

Publisher: Routledge

Published: 2019-03-27

Total Pages: 216

ISBN-13: 0429615485

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Austerity is perhaps the major challenge of our times, given the speed at which it arrived and the consequences of its impact upon society. The global financial crash and economic downturn was the catalyst for change and, against a backdrop of advice from experts adverse to Keynesian economics, the ideology of austerity grew and became the dominant thinking to steer economies out of recession. This comprehensive volume draws upon both quantitative and qualitative research methodologies to provide a varied and contextually rich insight into sport, policy, and politics in an era of austerity. The authors cover a wide range of issues in a variety of organisational contexts and geographies, including sports participation across different socio-demographic groups; the impact of austerity on the provision of community sports; disability sport; public management of sport facilities; the performance of public sport facilities with respect to access, finance, utilisation, and customer satisfaction; the potential impact of austerity on sport for development; elite sport; and social inclusion and poverty. This book makes a significant contribution to the current academic debate, while raising important considerations for policymakers and managers. It was originally published as a special issue of The International Journal of Sport Policy and Politics.

Austerity

Author: Bryan M. Evans

Publisher: University of Toronto Press

Published: 2017-01-01

Total Pages: 369

ISBN-13: 1487522037

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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.

Austerity Policies

Author: Peter Rushton

Publisher: Springer

Published: 2018-06-12

Total Pages: 280

ISBN-13: 3319791206

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This book takes up the problems of social policy, state intervention and support in the hard times of austerity introduced by the Coalition government 2010-15, and continued under the Conservative government today. At a time when the economy is growing and pay levels finally rising, the necessity for more cuts in public expenditure is fiercely contested. The scope of state services, the levels of support for people in need, and the kinds of organizations that will deliver the services, will all be profoundly affected in coming years. The authors and editors assess some of these consequences visible now in the impact that expenditure cuts and reorganization have had on many areas of social policy, and explore the direction of change in the near future. Austerity Policies evaluates a wide range of changing form of state services and the transformations involving both the recipients and those delivering the services. It considers the past, present and future of austerity as a policy, and the problems affecting particular groups such as offenders, looked after children, and professionals such as social care workers and those engaged with domestic violence. The collection will be of interest to students and scholars of social policy, criminology, sociology, politics and media studies.

Varieties of Austerity

Author: Whiteside, Heather

Publisher: Policy Press

Published: 2021-05-03

Total Pages: 260

ISBN-13: 152921226X

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Austerity is not always one-size-fits-all; it can be a flexible, class-based strategy taking several forms depending on the political-economic forces and institutional characteristics present. This important book identifies continuity and variety in crisis-driven austerity restructuring across Canada, Denmark, Ireland and Spain. In their analysis, the authors focus on several components of austerity, including fiscal and monetary policy, budget narratives, public sector reform, labor market flexibilization, and resistance. In so doing, they uncover how austerity can be categorized into different dynamic types, and expose the economic, social, and political implications of the varieties of austerity.

The IMF and the Politics of Austerity in the Wake of the Global Financial Crisis

Author: Ben Clift

Publisher: Oxford University Press

Published: 2018-02-14

Total Pages: 272

ISBN-13: 0192542486

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This book explores the IMF's role within the politics of austerity by providing a path-breaking comprehensive analysis of how the IMF approach to fiscal policy has evolved since 2008, and how the IMF worked to alter advanced economy policy responses to the global financial crisis (GFC) and the Eurozone crisis. It updates and refines our understanding of how the IMF seeks to wield ideational power by analysing the Fund's post-crash their ability to influence what constitutes legitimate knowledge, and their ability fix meanings attached to economic policies within the social process of constructing economic orthodoxy.This book is interested in the politics of economic ideas, focused on the assumptive foundations of different approaches to economic policy, and how the interpretive framework through which authoritative voices evaluate economic policy is an important site of power in world politics. After establishing the internal conditions of possibility for new fiscal policy thinking to emerge and prevail, detailed case studies of IMF interactions with the UK and French governments during the Great Recession drill down into how Fund seeks to shape the policy possibilities of advanced economy policy-makers and account for the scope and limits of Fund influence. The Fund's reputation as a technocratic, scientific source of economic policy wisdom is important to for its intellectual authority. Yet, as this book demonstrates, the Fund makes normatively driven interventions in ideologically charged economic policy debates. The analysis reveals the malleability of conventional wisdoms about economic policy, and the processes of their social construction.