Austerity: The history of a Dangerous Idea
Mark Blyth, Oxford University Press, 2013.
BYFORUM NEW ECONOMY
PUBLISHED1. NOVEMBER 2019
READING TIME1 MIN.
In his ground-breaking book Blyth demonstrates that the case for austerity is tenuous at best. While it is possible for one country to cut its way to growth, it is impossible for all to do so simultaneously, and in all circumstances austerity imposes a disproportionate burden on poor households.