| Description |
1 online resource (viii, 135 pages) : illustrations. |
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text file |
| Series |
The economy, key ideas
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Economy, key ideas.
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| Bibliography |
Includes bibliographical references and index. |
| Summary |
Austerity has dominated economic debate since the financial crisis of 2008. Governments have implemented austerity policies by reducing their spending on goods and services, increasing taxation and cutting welfare budgets. John Fender explains how austerity (or "fiscal consolidation") works in theory and how it has played out in practice especially in the UK and the eurozone. He provides a clear and rigorous guide to the principles and mechanisms of austerity economics and offers a balanced account of the economic thinking behind contentious policy decisions. Boris Johnson has said that the UK government has absolutely no intention of returning to the A-word, but with the COVID-9 crisis likely to result in much more government debt, it will be difficult to avoid more austerity. Understanding the impact of austerity policies is more important than ever and this book offers a first step on that path. For anyone seeking answers to such questions as: What can we learn from the UK's economic history that is relevant to current policy?, Is austerity ever necessary or desirable? and Can the harmful effects of austerity programmes be mitigated? then this book will be welcome reading |
| Contents |
Intro -- Title Page -- Copyright Page -- Contents -- Preface and Acknowledgements -- 1. Introduction -- 2. The economics of austerity I -- 3. The economics of austerity II -- 4. The term structure of interest rates -- 5. A simple model -- 6. Austerity in the United Kingdom -- Addendum: options for raising taxation in the UK -- 7. Austerity in the eurozone -- 8. Austerity in the rest of the world -- 9. The optimal time path of government debt (or how should fiscal policy be conducted?) -- 10. Policy in a world where severe deflationary shocks are possible |
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11. Conclusion: when are austerity measures necessary or desirable? -- Appendix: UK Debt-GDP ratios, 1695-2020 -- References -- Index |
| Local Note |
eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America |
| Subject |
Economic policy.
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Economic policy. |
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Financial crises -- Government policy.
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Financial crises -- Government policy. |
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Financial crises. |
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e-books. |
| Other Form: |
Print version: Fender, John. Austerity : when is it a mistake and when is it necessary? Newcastle upon Tyne : Agenda Publishing Limited, 2020 9781911116929 9781911116936 (DLC) 2020445920 (OCoLC)1061820207 |
| ISBN |
9781911116943 (electronic book) |
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1911116940 (electronic book) |
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9781788213776 (electronic book) |
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1788213777 (electronic book) |
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9781911116936 (paperback) |
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1911116932 (paperback) |
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9781911116929 (hardcover) |
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1911116924 (hardcover) |
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