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Austerity: The History of a Dangerous Idea/ (Record no. 4893)

MARC details
000 -LEADER
fixed length control field	02694nam a2200229Ia 4500
001 - CONTROL NUMBER
control field	4893
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field	250217s9999 xx 000 0 und d
010 ## - LIBRARY OF CONGRESS CONTROL NUMBER
LC control number	2012046882
020 ## - INTERNATIONAL STANDARD BOOK NUMBER
International Standard Book Number	9780199389445
050 ## - LIBRARY OF CONGRESS CALL NUMBER
Classification number	HJ8015.B59 2013
082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER
Classification number	336--dc23
100 ## - MAIN ENTRY--PERSONAL NAME
Personal name	Mark Blyth
9 (RLIN)	7028
245 #0 - TITLE STATEMENT
Title	Austerity: The History of a Dangerous Idea/
Statement of responsibility, etc.	Blyth, Mark
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Name of publisher, distributor, etc.	Oxford University Press;
Date of publication, distribution, etc.	2013, 2015
300 ## - PHYSICAL DESCRIPTION
Extent	336p;
Dimensions	22x13cm
520 ## - SUMMARY, ETC.
Summary, etc.	Debts, public; Budget deficits; Financial crises; Economic policy and development; Fiscal policy; Income. 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.
546 ## - LANGUAGE NOTE
Language note	English
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element	Budget cuts
9 (RLIN)	7029
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element	Fiscal policy- austerity
9 (RLIN)	7030
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element	HJ8001-8899 Public Finance- Public debts
9 (RLIN)	7031
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Koha item type	Book

Holdings
Withdrawn status	Lost status	Damaged status	Not for loan	Collection	Home library	Current library	Date acquired	Source of acquisition	Total Checkouts	Full call number	Barcode	Date last seen	Price effective from	Koha item type
				Social Sciences	SAF Reference Library	SAF Reference Library	02/17/2025	Reading Room- Time Is Out Of Joint		HJ8001-8899 14.017	4893	02/17/2025	02/17/2025	Book