The Austerity Lobby

E Ray Canterbery

Chapter 10 in The Rise and Fall of Global Austerity, 2015, pp 171-182 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Since the early 1990s, an expanding network of Washington and Wall Street notables has warned that the nation is overspending and over-promising, putting the solvency of the Republic and the prosperity of the next generation at risk. With the money and banking panic of 2008, these groups deliberately blurred the long-term need for adjustments in Social Security and Medicare with the unrelated and urgent question of how to recover from a prolonged deflationary downturn. As it turned out, the budget hawks found a receptive audience among media and political elites. Key commentators have embraced the story line of the need for shared sacrifice and grander fiscal compromise and the premise that we can somehow deflate our way to prosperity.

Keywords: Austerity; Expansionary Austerity; Housing Bubble; Global Great Recession; Austerity Lobby; Monetary Policy; Fiscal Policy; Incomes Policy; Full Employment; Public Debt; Austerity in Europe; Domestic Inequality; Global Inequality; Economic Growth; Post Keynsesians; John Maynard Keynes; Michal Kalecki; Piero Sraffa; Hyman Minsky; Vita Theory; Trickle-Down Economics; Keynesians; Trickle-Up Economics; Keynesian Economics; Trends in Suicide Rates; Health and The Economy; Alan Greenspan; Ben Benanke; Janet Yellen; Federal Reserve Board; European Central Bank; The Euro (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789814603492_0010 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789814603492_0010 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789814603492_0010

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().