The Changing Politics and Policy of Austerity

The Changing Politics and Policy of Austerity

Author: McBride, Stephen

Publisher: Policy Press

ISBN: 9781447359517

Category: Political Science

Page: 326

View: 895

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Experts from around the world review the complex and rapidly changing politics and policies of austerity in this comprehensive collection of essays. The book details the many different means and expressions of austerity since the financial crisis of 2008, as well as backlashes and emerging political alternatives.

The Changing Politics and Policy of Austerity

The Changing Politics and Policy of Austerity

Author: McBride, Stephen

Publisher: Policy Press

ISBN: 9781447359531

Category: Political Science

Page: 326

View: 324

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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.

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

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

Author: Ben Clift

Publisher: Oxford University Press

ISBN: 9780198813088

Category: Business & Economics

Page: 297

View: 669

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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.

Austerity

Austerity

Author: Mark Blyth

Publisher: Oxford University Press

ISBN: 9780199389445

Category: Business & Economics

Page: 305

View: 351

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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.

Austerity Policies

Austerity Policies

Author: Peter Rushton

Publisher: Springer

ISBN: 9783319791203

Category: Political Science

Page: 280

View: 583

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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

Varieties of Austerity

Author: Whiteside, Heather

Publisher: Policy Press

ISBN: 9781529212242

Category: Political Science

Page: 260

View: 568

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Identifying continuity and variety in crisis-driven austerity restructuring across Canada, Denmark, Ireland and Spain, this important book uncovers how austerity can be categorized into different dynamic types, and exposes the economic, social, and political implications of the varieties of austerity.

Transatlantic Policymaking in an Age of Austerity

Transatlantic Policymaking in an Age of Austerity

Author: Martin A. Levin

Publisher: Georgetown University Press

ISBN: 1589014766

Category: Political Science

Page: 348

View: 731

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Transatlantic Policymaking in an Age of Austerity integrates the study of politics and public policy across a broad spectrum of regulatory and social welfare policies in the United States and several nations of Western Europe. The editors and a sterling list of contributors look at policymaking in the 1990s through the present—providing a comparative politics framework—stressing both parallel development and the differences between and among the nations. Similar prevailing ideas and political factors can be identified and transatlantic comparisons made—providing for a clearer understanding of the policymaking process. Faith in regulated markets and the burden of rising welfare costs are concerns found on both sides of the Atlantic. Western democracies also share political climates colored by economic austerity; low trust in government, pressures from interest groups, and a sharply divided electorate. Because of differing political processes and differing policy starting points, a variety of disparate policy decisions have resulted. Real world policymaking in the areas of welfare, health, labor, immigration reform, disability rights, consumer and environmental regulation, administrative reforms, and corporate governance are compared. Ultimately, the last decade is best characterized as one of "drift," sluggish changes with little real innovation and much default to the private sector. In general, policymakers on both sides of the ocean, constrained by economic necessity, have been unable to produce policy outcomes that satisfy the key segments of the electorate. The contributors examine the United States, Great Britain, France, and Germany, as well as a number of other European countries, and study the European Union itself as a policymaking institution. Transatlantic Policymaking in an Age of Austerity distills the prominent issues, politics, and roles played by governmental institutions into a new understanding of the dynamics of policymaking in and among transatlantic nations.

Austerity

Austerity

Author: Alberto Alesina

Publisher: Princeton University Press

ISBN: 9780691208633

Category: Business & Economics

Page: 290

View: 725

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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.

The Politics of Minimum Income

The Politics of Minimum Income

Author: Marcello Natili

Publisher: Springer

ISBN: 9783319962115

Category: Political Science

Page: 318

View: 459

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Minimum income schemes (MIS) have become key social protection institutions for European citizens, but we know little regarding the logic and dynamics of institutional change in this policy field. This book provides an analytical model that will facilitate an understanding of the scope and direction of recent reforms, offering insight into the conditions under which minimum income schemes are introduced, expanded or retrenched. Natili presents a comparative analysis of policy trajectories of minimum income schemes in Italy and Spain between the mid-1980s and 2015. Although these two countries had similar points of departure, and faced comparable functional pressures and institutional constraints, they experienced remarkably different developments in this policy field in the last two decades. This comparative analysis provides empirical evidence of the impacts of different types of credit-claiming dynamics resulting from the interaction of socio-political demand with political supply. The Politics of Minimum Income also assesses the reform processes both in countries that have introduced MIS in the age of austerity (such as Portugal) and in countries that have retrenched them (Austria and Denmark).

Social concertation in times of Austerity

Social concertation in times of Austerity

Author: Alexandre Afonso

Publisher: Amsterdam University Press

ISBN: 9789048512997

Category: Social Science

Page: 261

View: 438

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Why do governments still negotiate with trade unions and employers in the design of labour market and welfare reforms despite the steady decline of trade union membership almost everywhere in Europe? 'Social Concertation in Times of Austerity' investigates the political underpinnings of social concertation in this new context with a focus on the regulation of labour mobility and unemployment protection in Austria and Switzerland. It shows that the involvement of organised interests in policymaking is a strategy of compromise-building used by governments when they are faced with party-political divisions, or when unpopular reforms are likely to have risky electoral consequences.

Handbook on Austerity, Populism and the Welfare State

Handbook on Austerity, Populism and the Welfare State

Author: Bent Greve

Publisher: Edward Elgar Publishing

ISBN: 1789906733

Category:

Page: 400

View: 810

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This innovative Handbook presents the core concepts associated with austerity, retrenchment and populism and explores how they can be used to analyse developments in different welfare states and in specific social policies. Leading experts highlight how these concepts have influenced and changed welfare states around the globe and impacted specific areas including pensions, long-term care, the labour market, taxation, social activism and gender equality. Comprehensive in approach, the authors offer cutting edge research demonstrating the importance of societal developments to welfare states and the effects of ideas, ideologies and variations in policies and decisions in different countries. They also investigate key country and regime-specific approaches to welfare state development, analysing and interpreting changes in the last 10-15 years. The main drivers for these changes, ranging from demography, to the financial crisis, to the use of new technology and the possible impact of populism, are examined. Far reaching and authoritative, this timely Handbook offers a systematic theoretic overview which will be invaluable for scholars of welfare states, social policy, sociology and political science. Social policy makers will also benefit from the novel case studies explored in depth, and suggestions for potential policy changes.