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Thu Feb 28, 2019, 11:55 AM

Austerity: 12 Myths Exposed

Belt tightening austerity policies have been the path for most countries shaken by the financial crisis more than ten years ago. The deep spending cuts were often justified based on questionable grounds. Austerity: 12 Myths Exposed debunks commonly held beliefs by the advocates of austerity as the solution to overcome an economic crisis.

Content

PART I: THE AUTHORITY OF AUSTERITY ECONOMICS

The great stagnation and the failure of business investment

Mickey Mouse numbers in economic history: the origins and spinning of 60 / 90 percent debt-to-GDP ratios

PART II: CONTEMPORARY AUSTERITY: RECONSTRUCTING THE IRON CAGE OF PUBLIC FINANCE

The myth of international tax ‘competition’

Privatization reduces the fiscal burden?

Fiscal consolidation: cut spending, solve fiscal problems and increase investment?

PART III: AUSTERITY AND THE EXPLANATION OF ECONOMIC CRISIS

The priority of deficit reduction and the myth of consolidation

Was the euro crisis caused by excessive sovereign debt?

PART IV: THE IMPACT OF DEBT ON ECONOMIC DEVELOPMENT

Markets good, public bad—the false promises of market populism

The state must live within its means?

Swabian housewife economics is good for everyone?

PART V: THE IMPACT OF DEBT ON SOCIETY

Two worlds of austerity: mythologies of activation and incentives

Democratic austerity? Social concertation in the neoliberal state


FREE PDF DOWNLOAD

https://www.socialeurope.eu/wp-content/uploads/2019/02/Austerity-Print.pdf


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