The Austerity State

The fall-out from the economic and financial crisis of 2008 had profound implications for countries across the world, leading different states to determine the best approach to mitigating its effects. In__The Austerity State__, a group of established and emerging scholars tackles the question of why states continue to rely on policies that, on many levels, have failed.After 2008, austerity policies were implemented in various countries, a fact the contributors link to the persistence of neoliberalism and its accepted wisdoms about crisis management. In the immediate aftermath of the 2008 collapse, governments and central banks appeared to adopt a Keynesian approach to salvaging the global economy. This perception is mistaken, the authors argue. The "austerian" analysis of the crisis is ahistorical and shifts the blame from the under-regulated private sector to public, or sovereign, debt for which public authorities are responsible.__The Austerity State__provides a critical examination of the accepted discourse around austerity measures and explores the reasons behind its continued prevalence in the world. This Volume Focuses On The State's Role In Managing The Fall-out From The Global Economic And Financial Crisis Since 2008. For A Brief Moment, Roughly From 2008-2010, Governments And Central Banks Appeared To Borrow From Keynes To Save The Global Economy. The Contributors, However, Take The View That To See Those Stimulus Measures As Keynesian Is A Misinterpretation. Rather, Neoliberalism Demonstrated Considerable Resiliency Despite Its Responsibility For The Deep And Prolonged Crisis. The Austerian Analysis Of The Crisis Is--historical, Ignores Its Deeper Roots, And Rests Upon A Triumph Of Discourse Involving Blame-shifting From The Under-regulated Private Sector To Public Or Sovereign Debt--for Which The Public Authorities Are Responsible.-- Acknowledgments -- The Austerity State: An Introduction / Bryan M. Evans And Stephen Mcbride -- Section 1: Responses To Crisis. Austerity Policies: From The Keynesian To The Corporate Welfare State / Gary Teeple -- Post-democracy And The Politics Of Inequality: Explaining Policy Responses To The Financial Crisis And The Great Recession / John Peters -- Austerity's Role In Economic Performance: The Relationships Between Social Reproduction Spending, The Economy, And People / Marjorie Griffin Cohen -- Internalizing Neoliberalism And Austerity / Stephen Mcbride And Sorin Mitrea -- Expansionary Fiscal Consolidation And The Smarter State: An Evaluation Of The Politics Of Austerity In The United Kingdom, May 2010 To February 2016 / Simon Lee -- Frugal Comfort From Ireland: Marginal Tales From An Austere Isle / Brendan K. O'rourke And John Hogan -- Section 2: State Reconfiguration. The New Constitutionalism And Austerity / Stephen Mcbride -- Fighting The Financial Crisis Or Consolidating Austerity? The Eurobond Battle Reconsidered / Dieter Plehwe -- Constructing Economic Policy Advice In An Age Of Austerity / Bryan M. Evans -- Tax Havens In An Austere World: The Clash Of New Ideas And Existing Interests / Richard Woodward -- Profiting Off Austerity: Private Finances For Public Infrastructure / Heather Whiteside -- Austerity And Outsourcing In Britain's New Corporate State / Stephen Wilks -- Austerity And The Non-profit Sector: The Case Of Social Impact Bonds / Meghan Joy And John Shields -- Conclusion / Stephen Mcbride And Bryan M. Evans -- Contributors. Edited By Stephen Mcbride And Bryan M. Evans. Includes Bibliographical References. The fall-out from the economic and financial crisis of 2008 had profound implications for countries across the world, leading different states to determine the best approach to mitigating its effects. In The Austerity State , a group of established and emerging scholars tackles the question of why states continue to rely on policies that, on many levels, have failed. After 2008, austerity policies were implemented in various countries, a fact the contributors link to the persistence of neoliberalism and its accepted wisdoms about crisis management. In the immediate aftermath of the 2008 collapse, governments and central banks appeared to adopt a Keynesian approach to salvaging the global economy. This perception is mistaken, the authors argue. The "austerian" analysis of the crisis is ahistorical and shifts the blame from the under-regulated private sector to public, or sovereign, debt for which public authorities are responsible. The Austerity State provides a critical examination of the accepted discourse around austerity measures and explores the reasons behind its continued prevalence in the world. "This volume focuses on the state's role in managing the fall-out from the global economic and financial crisis since 2008. For a brief moment, roughly from 2008-2010, governments and central banks appeared to borrow from Keynes to save the global economy. The contributors, however, take the view that to see those stimulus measures as "Keynesian" is a misinterpretation. Rather, neoliberalism demonstrated considerable resiliency despite its responsibility for the deep and prolonged crisis. The "austerian" analysis of the crisis is--historical, ignores its deeper roots, and rests upon a triumph of discourse involving blame-shifting from the under-regulated private sector to public or sovereign debt--for which the public authorities are responsible."--Résumé de l'éditeur