The political economics of austerity
Bibliographic Data
| ID | 5767415 |
|---|---|
| Authors | Suzanne J Konzelmann (0000-0002-0226-1365, corresponding author) |
| Year | 2014 |
| Volume | 38 |
| Issue | 4 |
| Pages | 701-741 |
| Publication date | 2014-02-02 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Cambridge Journal of Economics (JOURNAL) |
| Journal identifiers | ISSN: 0309-166X • E-ISSN: 1464-3545 |
| Publisher | Oxford University Press (PUBLISHER • GB) |
| DOI | 10.1093/cje/bet076 |
| OpenAlex | W3121280664 |
| Language | EN |
| Citations received | 36 |
| References cited | 36 |
The 2007/08 financial crisis has reignited the debate about economic austerity. With the aim of understanding why a government would pursue such a policy in the current context of persistent economic recession, this article traces the social, political and economic developments that have together shaped the evolution of ideas about austerity, from the earliest theorising by the classical political economists some 300 years ago. Throughout the historical narrative, important analytical themes revolve around the arguments used to justify austerity-notably appeals to ethics and morality (reinforced by misleading analogies drawn between government budgets and the accounts of firms and households). These include concerns about inflation and the observed relationship between inflation and unemployment; 'Ricardian equivalence' and 'non-Keynesian' effects of austerity; and the correlation between public debt levels and economic growth. The class analytics of austerity-who bears the burden of austerity and who benefits-and the process by which alternative ideas penetrate the mainstream and reconstitute the conventional wisdom are also important analytical themes
Austerity · Economic Theory and Policy · Housing, Finance, and Neoliberalism · Social Policy and Reform Studies
Austerity from the Left
Managing Austerity
La pandémie de Covid-19 en Écosse et au Royaume-Uni, entre « déficits » de soins et solidarité
Welfare Retrenchment, Government Expenditure Structure, and Economic Growth
An Unassailable Fortress? Neo-Liberalism in Estonia
Rebalancing the Spatial Economy
Gendering the crisis
Austerity as epiphenomenon? Public assets before and beyond 2008
Austerity and the household
The futility of participation
Contention in the age of austerity in Europe
Austerity and its alternatives in the European parliament
Spatial dynamics of post-crisis deleveraging
Legitimacy gaps, taxpayer conflict, and the politics of austerity in the UK
Watering Down Austerity
Crisis management, new constitutionalism, and depoliticisation
Contesting Actually Existing Austerity
Engendering Economic Recovery
The Impact of Crisis and Austerity on Long Term Care for Older People in Portugal – An Analysis Based on the Experiences of Social Workers in Private Institutions for Social Solidarity
Schools, student health and family welfare
Beyond Neoliberalism
Growth in a time of austerity
Social Consequences of Neoliberal Economic Crisis and Austerity Policy in the Baltic States
Austerity in the United Kingdom
The rural consolidation state
Money, territory, decarbonisation
Austerity and Anti-Austerity
The ideational foundations of social democratic austerity in the context of the great recession
Caring at the edges
The broken promises of the social investment market
Opioid abuse and austerity
Cash Transfers, International Finance and Neoliberal Debt Relations
Counter-cyclical public venture capital
The re-aestheticisation of poverty
Hipster Capitalism' in the Age of Austerity? Polanyi Meets Bourdieu's New Petite Bourgeoisie
Governing austerity in the United Kingdom
The general theory of employment, interest, and money
Economics
Growth in a Time of Debt
Does high public debt consistently stifle economic growth? A critique of Reinhart and Rogoff
States and the Reemergence of Global Finance
The Origins of the Welfare State
Wages, economic development and the customary standard of life
The Means to Prosperity
Capital
Unto This Last (1860)
Imperialism
On the Principles of Political Economy, and Taxation
The Role of Public Investment as Principal Macroeconomic Tool to Promote Long-Term Growth
Political Aspects of Full Employment 1
Are Government Bonds Net Wealth
The Economic Lessons of the Nineteen-Thirties
The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957 1
Public Expenditure and the Demand for Labour
Inflation and Recession in the World Economy
Unemployment and Inflation
An Early Harvard Memorandum on Anti-Depression Policies
The British Imperial Century, 1815-1914
The "Treasury View" on Public Works and Employment in the Interwar Period
British Liberalism and the Idea of Social Justice
| Unique citing works | 36 |
|---|---|
| Citations per year | 3 |
| Citation span | 2014 - 2026 (13) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 36 |