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  • © 2017

Austerity vs Stimulus

The Political Future of Economic Recovery

Palgrave Macmillan
  • Presents contemporary views on austerity v stimulus from the world's leading economic figures in one collection
  • Provides readers with the tools necessary to engage in the debate
  • Concludes with an outlook on what comes next for this ongoing narrative and the future of the world's economy
  • Includes supplementary material: sn.pub/extras

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Table of contents (23 chapters)

  1. Front Matter

    Pages i-xxiii
  2. The Politics of the Debate

    1. Front Matter

      Pages 1-1
    2. Austerity in the Tension Between Capitalism and Democracy

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 3-8
  3. The Two Sides of the Debate

    1. Front Matter

      Pages 9-9
    2. Keynes Vs Hayek

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 11-15
    3. Contemporary Arguments for Austerity

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 17-34
    4. Contemporary Arguments for Stimulus

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 35-54
  4. Confidence: The Object of the Debate

    1. Front Matter

      Pages 55-55
    2. Austerity: A Solution to Restore Markets’ Confidence

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 57-61
    3. Myths of Austerity

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 63-65
    4. Debating the Confidence Fairy

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 67-70
    5. Confidence in the UK Is Different from the One in the Eurozone

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 71-76
    6. Confidence Beyond Debt: The Role of Monetary Policy

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 77-85
    7. Schizophrenic Confidence?

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 87-90
  5. Austerity vs Stimulus in the UK

    1. Front Matter

      Pages 91-91
    2. Austerity for the UK

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 93-94
    3. Stimulus for the UK

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 95-97
    4. “Keynesian Austerity”

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 99-107
    5. Britain’s Confidence

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 109-115
    6. The Economic Consequences of Mr. Osborne

      • Robert Skidelsky, Nicolò Fraccaroli
      Pages 117-125

About this book

This timely book debates the economic and political logic of the austerity policies that have been implemented in the UK and in the Eurozone since 2010 and asks whether there is any alternative for these countries in the years ahead. The work reconsiders the austerity versus stimulus debate through the voices of those who proposed the successful idea of expansionary austerity and those who opposed it. The editors have brought together a collection of articles written by some of the most notable figures in the discipline, including the likes of Alberto Alesina, Ken Rogoff, Tim Besley, David Graeber, Vince Cable, and Paul Krugman. The book also features the debate between Niall Ferguson and Robert Skidelsky. These leading thinkers unveil a world where economists are far from agreeing on economic policy, and where politics often dominates the discussion. The question of whether the British government should have opted for austerity runs through the book, as well as how sustained economicrecovery should be encouraged in the future. Scholars, students and members of the general public with an interest in the financial crisis and its lingering aftermath will find this work invaluable.

Reviews

“In many European countries, and especially in the United Kingdom, the austerity policies followed since the financial crisis have led to political upheaval and are increasingly put into question. This book comes at the right time. It brings together the arguments of economists pro and con austerity. The originality of the book is to introduce a historical perspective to this debate.” (Paul De Grauwe, LSE, UK)

“This book is a veritable treasury of the key sources on the most controversial economic issue of our time - austerity. Not only has it collected the most important writings on the subject but it also provides highly sophisticated but accessible introductions to each of them. It is an absolutely essential reading for everyone who wants to understand what is going on with our economy and politics.” (Ha-Joon Chang, University of Cambridge, UK)

“In this excellent intellectual biography of the crisis, Skidelsky and Fraccaroli give us both the historical arguments, and the contemporary adaptations of these arguments, for Austerity and Stimulus. The politics of economic theory has never been so clearly exposed.” (Mark Blyth, Professor of International Political Economy, Brown University, UK)

Authors and Affiliations

  • University of Warwick , Warwick, United Kingdom

    Robert Skidelsky

  • London School of Economics and Political , London, United Kingdom

    Nicolò Fraccaroli

About the authors

Robert Skidelsky is Emeritus Professor of Political Economy at Warwick University, UK. He is best known for his work on John Maynard Keynes, including a three-volume biography and Keynes: The Return of the Master (2009). Most recently he co-authored How Much is Enough?: Money and the Good Life (2012) with his son, Edward Skidelsky.


Nicolò Fraccaroli is a PhD student in Economics at the University of Rome Tor Vergata, Italy. He obtained his MSc in the Political Economy of Europe at the London School of Economics, UK. Previously he worked for the Centre for Global Studies, London, UK, on the reform of the economics curriculum. He is a member of the Rethinking Economics network and founded its organisation in Italy.


Bibliographic Information

Buy it now

Buying options

eBook USD 19.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 29.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access