PENGUIN BOOKS AUSTERITY MEASURES 'Austerity is a selfdefeating
economic policy which has taken an ugly toll in Greece. The silver lining is that,
along with the mass unemployment and the rise of Nazism that it engendered,
Author: Karen Van Dyck
Publisher: Penguin UK
'I remember caresses, kisses, touching each other's hair. We had no sense that anything else existed' - Elena Penga, 'Heads' 'Nothing, not even the drowning of a child Stops the perpetual motion of the world' - Stamatis Polenakis, 'Elegy' Since the crisis hit in 2008, Greece has played host to a cultural renaissance unlike anything seen in the country for over thirty years. Poems of startling depth and originality are being written by native Greeks, émigrés and migrants alike. They grapple with the personal and the political; with the small revelations of gardening and the viciousness of streetfights; with bodies, love, myth, migration and economic crisis. In Austerity Measures, the very best of the writing to emerge from that creative ferment - much of it never before translated into English - is gathered for the first time. The result is a map to the complex territory of a still-evolving scene - and a unique window onto the lived experience of Greek society now.
Historically, austerity measures have encompassed welfare cuts rather than tax
increases, and such cuts in turn affect those who are more likely to be dependent
on state provisions. That said, we must start from the simple premise that, ...
Author: Sebwa Domingos
Publisher: Author House
There is a broad consensus that the impact of austerity measures on people in the United Kingdom will vary from place to place. However, what is less clear is that some people in some local authorities will be hit hardest. The pace in which cuts have been wielded by the coalition government has allowed local authorities little scope to maneuver and devise a good strategy for dealing with the huge loss of revenue in their local budgets. This book seeks to analyze how cutbacks pose severe challenges to local authorities in the United Kingdom, even threatening their ability to provide adequate delivery of benefits and public services to their constituents.
This is reflected in several recommendations, which limit the scope of political decision-making in order to "calm financial markets".
Author: Stephan Pühringer
The European Fiscal Compact (FC) entered into force by 1 January, 2013 in 25 EU Member States. With the ratification the signatory countries commit significant parts of their budget to the European Commission and the European Court of Justice, which indicates a shift of power from legislative to executive authorities and the judiciary. In the aftermath of the economic crisis there can be observed a strong tendency to interpret the financial and economic crisis mainly as a sovereign debt crisis without any connection to the preceding crisis. This is reflected in several recommendations, which limit the scope of political decision-making in order to "calm financial markets". Applying an analysis of the public discourse about FC in three leading Austrian newspapers from December 2011 (the initial debate at an EU Summit) to July 2012 (the ratification in the Austrian parliament), the dominant rationale as well as legitimization and argumentation patterns will be examined. The methodology adopted in the article is based on a combination of critical discourse analysis and conceptual metaphor theory in order to illustrate the effectiveness of marketradical thinking of specific economic elites in public discourse. It can be shown that the public discourse about economic policies yet in a time of a potential "crisis of economics" is still dominated by economic ideas or "economic imaginaries" (implicitly) preferring austerity measures to active fiscal policies.
at the heart of the debate for and against the implementation of fiscal austerity
measures. Consequentially, we formulate Hypothesis H1.1 as follows: H1.1:
Fiscal austerity measures will be positively correlated with economic growth,
Author: Tim Griebel
Publisher: Nomos Verlag
Austerität ist ein bis heute heiß diskutiertes Thema. Es kann keineswegs auf staatliche Ausgabenkürzungen reduziert werden, sondern ist vielmehr ein komplexes Terrain, das sich über wirtschaftliche, politische und kulturelle Dimensionen erstreckt. Einige Beobachter sprechen deshalb von einem "Age of Austerity". Strittig bleiben jedoch die Ursachen und Wirkungen dieses zentralen Phänomens unserer Zeit. Während Befürworter Austerität als rationalen Weg zurück zu fiskalischer Nachhaltigkeit und wirtschaftlichem Wachstum verstehen, sehen Kritiker in Austerität eine gefährliche neoliberale Idee, die "beißt" oder sogar "tötet". Um der Komplexität der Austeritätslandschaft wie auch der unterschiedlichen wissenschaftlichen "Stämme", die diese bearbeiten, gerecht zu werden, wählt der Band eine Kombination von sprach-, wirtschafts- als auch politikwissenschaftlichen Zugängen. Gerade diese Verbindung erlaubt einen innovativen Weg durch das immer noch weitestgehend unbekannte Land der Austerität. Mit Beiträgen von Philipp Adorf, Christoph Bruckmüller, Constantine Dimoulas, Vassilis K. Fouskas, Brian Girvin, Klaus Gretschmann, Tim Griebel, Reiner Grundmann, Bob Jessop , Kim-Sue Kreischer, Sabina Monza, Wolfram Ridder, Mike Scott, Roland Sturm, Erik Vollman, Claudia Wiesner und Thorsten Winkelmann.
A revealing look at austerity measures that succeed—and those that don't Fiscal austerity is hugely controversial.
Author: Alberto Alesina
Publisher: Princeton University Press
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.
Many of the austerity measures adopted took a relatively technocratic form in an
attempt to depoliticise the process of austerity policymaking. This was most
obviously the case with the move to change the government's measure of
Author: Adam Fishwick
Publisher: Rowman & Littlefield
A guide for students and academics looking for a critical and comprehensive collection dealing with contemporary and global cases of protest and resistance.
Highlights Austerity measures were imposed on the Spanish health care system. Healthcare professionals reported increases in mental health and malnutrition. They perceived that the quality of care and health outcomes had deteriorated.
Highlights Austerity measures were imposed on the Spanish health care system. Healthcare professionals reported increases in mental health and malnutrition. They perceived that the quality of care and health outcomes had deteriorated. The proposed reforms were highly contested and opposed by most professionals. There were concerns around poor governance and widespread corruption.
improving the fundamentals, mainly by austerity programs aimed at reducing
government budget deficits and debts. ... The imposition of dramatic austerity
measures was also forced by the fact that countries with high spreads were
pushed into ...
Author: P.K. Rao
This short book integrates the imperatives of public debt sustainability with those of socioeconomic sustainability in the context of budget austerity measures. It is argued that poverty, inequality and unemployment problems should be integral aspects of policy frameworks for austerity and fiscal stability. The economics of austerity in much of economic analysis remains narrowly focused and lopsided, since the implications on the role of human capital and loss of prosperity base are usually ignored. This book argues that various misapplications of policies of government austerity can be avoided if greater attention is accorded to the imperatives of maintaining the win-win approaches for socioeconomic resilience and sustainability in conjunction with debt sustainability and/or fiscal stability.
Austerity measures are “official actions taken by the government during a period
of adverse economic conditions, to reduce its budget deficit using a combination
of spending cuts or tax rises.”95 Governments frequently and cyclically resort to ...
Author: Diane Desierto
Publisher: OUP Oxford
States reject inequality when they choose to ratify the International Covenant on Economic, Social and Cultural Rights (ICESCR), but to date the ICESCR has not yet figured prominently in the policy calculus behind States' international economic decisions. This book responds to the modern challenge of operationalizing the ICESCR, particularly in the context of States' decisions within international trade, finance, and investment. Differentiating between public policy mechanisms and institutional functional mandates in the international trade, finance, and investment systems, this book shows legal and policy gateways for States to feasibly translate their fundamental duties to respect, protect, and fulfil economic, social and cultural rights into their trade, finance, and investment commitments, agreements, and contracts. It approaches the problem of harmonizing social protection objectives under the ICESCR with a State's international economic treaty obligations, from the designing and interpreting international treaty texts, up to the institutional monitoring and empirical analysis of ICESCR compliance. In examining public policy options, the book takes into account around five decades of States' implementation of social protection commitments under the ICESCR; its normative evolution through the UN Committee on Economic, Social and Cultural Rights, and the Committee's expanded fact-finding and adjudicative competences under the Optional Protocol to the ICESCR; as well as the critical, dialectical, and deliberative roles of diverse functional interpretive communities within international trade, finance, and investment law. Ultimately, the book shoes how States' ICESCR commitments operate as the normative foundation of their trade, finance, and investment decisions.
"This volume focuses on the state's role in managing the fall-out from the global economic and financial crisis since 2008.
Author: Stephen McBride
Publisher: University of Toronto Press
"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."--
The Act embodied short - and medium - term austerity measures ( in the hope
that the oil glut was only temporary ) which aimed at monetary controls , import
restrictions and public expenditure reduction . Stringent import , foreign exchange
Author: Eghosa E. Osaghae
Publisher: C. HURST & CO. PUBLISHERS
Eghosa Osaghae analyzes Nigerian politics since independence in 1960 in relation to the factors that have prevented Nigeria from being the giant that its resources and location in the global system entitle it to be. The conceptual framework links elements of the country's political culture and economy to its colonial creation and current location as a neo-colonial formation.
IN THE POSTFINANCIAL CRISIS WORLD IS DEFINED BY thestruggle over
austerity. ... engine through the kind of strong fiscal measures that their
predecessors had taken when faced with the Great Depression nearly a century
ago. On the ...
Author: Aaron Major
Publisher: Stanford University Press
Architects of Austerity argues that the seeds of neoliberal politics were sown in the 1950s and 1960s. Suggesting that the postwar era was less socially democratic than we think, Aaron Major presents a comparative-historical analysis of economic policy in the United States, the United Kingdom, and Italy during the early 1960s. In each of these cases, domestic politics shifted to the left and national governments repudiated the conservative economic policies of the past, promising a new way forward. Yet, these social democratic experiments were short-lived and deeply compromised. Why did the parties of change become the parties of austerity? Studies of social welfare policy in these countries have emphasized domestic factors. However, Major reveals that international social forces profoundly shaped national decisions in these cases. The turn toward more conservative economic policies resulted from two critical shifts on the international stage. International monetary organizations converged around an orthodox set of ideas, and a set of institutional transformations within the Bretton Woods system made the monetary community more central to financial management. These changes gave central banks and treasuries the capacity to impose their ideas on national governments. Architects of Austerity encourages us to critically consider the power that we vest in public financial authorities, which have taken on an ever larger role in international economic regulation.
... the most vulnerable people in society while leaving the well-off unscathed.2 By
examining the lived experience and 'realtime' reactions of those most affected by
a whole raft of bruising austerity measures – the poorest and those most reliant ...
Author: O'Hara, Mary
Publisher: Policy Press
This timely book by award-winning journalist Mary O’Hara chronicles the true impact of austerity on people at the sharp end of the cuts, based on her 12-month journey around the country in 2012 and 2013 and fully updated for the paperback edition
Of course, the nations on the receiving end of the money had to accept and
implement strict austerity measures, known as the “Washington Consensus,” cuts
in government spending, tax reforms, privatization of state companies,
Author: Thomas J. Schoenbaum
Publisher: Edward Elgar Publishing
This provocative look at the global financial crisis argues that the United States, the European Union and Japan have intentionally and unwittingly adopted wrong-headed economic policies in a futile attempt to deal with sovereign debt resulting from the global financial crisis. It offers persuasive evidence of how the politics of austerity fail to encourage economic recovery, and proposes instead a number of alternative ideas and solutions. The book begins with a detailed breakdown of the financial crisis and the government response in the United States, with particular focus on the Dodd-Frank Wall Street Reform and Consumer Protection Act. The author then puts forth a basic three-part plan calling for (1) fundamental tax and entitlement reform; (2) massive economic stimulus in the form of public and private investment to modernize the countryÍs aging infrastructures; and (3) mortgage relief to revitalize the nationÍs housing markets. The book concludes with specific policy proposals designed to achieve these goals and return the US economy to a state of full employment and robust economic growth. This timely and insightful volume will appeal to students and scholars of economics, public policy and finance, as well as anyone with an interest in the recent economic history of the United States.
Times commented on the difference between the performance of the UK
economy with a contraction of 0.5% and its austerity measures, compared to the
US economy, with its more Keynesian counter cyclical investment policy,which
showed a ...
Author: R. Latham
The authors suggest that some of the problems of the public sector are self-inflicted and that current policies may only deliver partial success 'at a price we cannot afford'. It proposes a radical alternative and discusses practical ways it could be implemented. It also explores the threats and opportunities that such an approach might face.
The research Ihave undertaken over the last seven yearsinSt Ann's hasallowed
meto pursuethese questions in acommunity suffering the consequences
ofincreasing class inequality, class prejudiceand theharshest of austerity
Author: W. Atkinson
When the Coalition Government came to power in 2010 in claimed it would deliver not just austerity, as necessary as that apparently was, but also fairness. This volume subjects this pledge to critical interrogation by exposing the interests behind the policy programme pursued and their damaging effects on class inequalities. Situated within a recognition of the longer-term rise of neoliberal politics, reflections on the status of sociology as a source of critique and current debates over the relationship between the cultural and economic dimensions of social class, the contributors cover an impressively wide range of relevant topics, from education, family policy and community to crime and consumption, shedding new light on the experience of domination in the early 21st Century.
As austerity measures have been imposed, it is this generation who have paid
the highest price in terms of fees, charges, reduced rights and narrowing
opportunities. In particular, as jobs became scarcer and some education grants
and social ...
Author: Bill Jordan
Publisher: Macmillan International Higher Education
What has the contemporary financial context meant for social policy, social work and the relationship between them? Examining the role of political, economic and societal forces, this lively book uses a full range of supportive features to encourage reflection on the impact of austerity on different social groups, social work and social care.