Since its onset in late 2007, few expected the Great Recession to be protracted for over half a decade across the world. The Rise and Fall of Global Austerity explains the origins and history of austerity, severe implications of the idea of it and how the continuation of the Great Recession was a by-product of austerity measures. Covering austerity policies that are in place in the United States, Europe, and other countries, E Ray Canterbery explains why austerity is detrimental for economies, economic policy and the general health of populations around the world. He highlights the connection between public debt and austerity policies and shows how the austerity lobby works in the United States to achieve its goals. Besides presenting a critique of the rationale for austerity, Canterbery also recommends monetary, fiscal, and incomes policy remedies, and stresses why economic growth and full employment are more ideal and pragmatic antidotes to the Great Recession.
Contents:A Brief History of AusterityExpansionary Austerity in the 21st CenturyThe Housing Bubble CollapseHousing's Trickle-Down EffectsThe Great RecessionPublic Debt and Global AusterityUltra-Austerity in EuropeHow Austerity KillsThe Austerity LobbyMonetary RemediesFiscal RemediesIncomes Policy RemediesThe Importance of Economic Growth and Full EmploymentReadership: Economic historians, researchers, students and members of the public who are interested in political economy and financial institutions.Key Features:Provides a brief history of austerityExplains how the continuation of the Great Recession was a by-product of austerity measuresOne of the few books published after the recession of 2008 to provide detailed policy recommendations to deal with the forces of austerity
