Austerity
The History of a Dangerous Idea
by Mark Blyth · first published 2013
7mentions
4recommended by
6HN commenters
2015–2026first – last mentioned
67% recommend33% neutral
A history of austerity, an explanation of austerity-based economic policies, an examination of the results of applying austerity-based economic policies, and a determination why those policies failed.
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…elites decided that the Greek people should collectively pay the price for two bad economic policies that were only partially the fault of their government. Suggested reading: http://www.amazon.com/Austerity-The-History-Dangerous-Idea/d... - this book goes into great depth about what exactly happened in Europe. http://blog.mpettis.com/2015/02/syriza-and-the-french-indemn... - blog post that describes how…
on “Stand With Greece” ↗Unfortunately. May I recommend a book by an Economics Nobel Prize winner? Here: "Arguing with Zombies: Economics, Politics, and the Fight for a Better Future" by Paul Krugman (2020) And maybe even better: "Austerity: The History of a Dangerous Idea" by Mark Blyth - 2013
on “Money lessons without money: The financial literacy fallacy” ↗Marx hasn't been around for a while. With the corporate world sucking so hard on government teats, in the US and Europe in particular, austerity has a more distributed but still intensely negative impact. I strongly recommend Mark Blyth's book Austerity: The History of a Dangerous Idea as a more modern and nuanced take on what is going on.
on “Austerity Is an Antidemocratic Strategy to Boost Capital” ↗See perhaps Austerity: The History of a Dangerous Idea by Mark Blyth: * https://en.wikipedia.org/wiki/Austerity:_The_History_of_a_Da... * https://en.wikipedia.org/wiki/Mark_Blyth
on “Austerity Creates Fascism” ↗No, Germany forced the Greeks into a program of austerity even though it has been shown, very clearly, that austerity simply doesn't work (see references). The economic forecasts on which the German (really the EC, ECB, and IMF) analysis relied didn't account…
on “Valve Economist Yanis Varoufakis Appointed Finance Minister of Greece” ↗Mark Blyth has been trying to explain this situation ever since his warning about economic policy leading to a rise of populism, "Austerity: The History of a Dangerous Idea"[1]. For a very good overview of the problem - and some suggestions on how to fix it - see this[2] recent talk. Briefly, the political situation can be fixed quickly…
on “Austerity and the rise of the Nazi party [pdf]” ↗…You can opt out, exit at whatever level you prefer. And the government will be there to kindly remind us that: "Democracy is asset insurance for the rich"[0] and we may not skimp on the payments. [0] Austerity: The History of a Dangerous Idea by Mark Blyth
on “Silicon Valley’s Ultimate Exit (2013)” ↗