• Austerity: The History of a Dangerous Idea See large image

    Austerity: The History of a Dangerous Idea (Hardback) By (author) Mark Blyth

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    Short Description for Austerity Conservatives in America have succeeded in casting government spending as useless profligacy that has made their economy worse, centering the policy debate in the wake of the financial crisis on draconian budget cuts. Americans are told that they need to live in an age of austerity since they have all lived beyond their means and now need to tighten their 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 respons...
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