Sunday , December 22 2024
Home / Naked Keynesianism / Arguments for austerity, old and new

Arguments for austerity, old and new

Summary:
Here what I think may be is Fernando Cardim de Carvalho's last published paper (who passed away recently), published in Intervention. From the abstract: Much of the criticism directed at austerity programs implemented after the 2007/2008 financial crisis, more forcefully in the eurozone, have relied on the same arguments Keynes and others raised against the (British) Treasury View developed in the 1920s and 1930s. Austerity, however, has been proposed most insistently in the 2010s by European authorities, led by the German Federal Ministry of Finance, the Bundesfinanzministerium (BMF). While the arguments for austerity then and now share some common elements, there are enough original arguments being presented by the BMF to make many of the criticisms ineffective. The paper reconstructs

Topics:
Matias Vernengo considers the following as important: ,

This could be interesting, too:

Nick Falvo writes Report finds insufficient daytime options for people experiencing homelessness

Frances Coppola writes When populism fails

Frances Coppola writes The dismal decade

Sergio Cesaratto writes Intervista su Brave New Europe

Here what I think may be is Fernando Cardim de Carvalho's last published paper (who passed away recently), published in Intervention. From the abstract:
Much of the criticism directed at austerity programs implemented after the 2007/2008 financial crisis, more forcefully in the eurozone, have relied on the same arguments Keynes and others raised against the (British) Treasury View developed in the 1920s and 1930s. Austerity, however, has been proposed most insistently in the 2010s by European authorities, led by the German Federal Ministry of Finance, the Bundesfinanzministerium (BMF). While the arguments for austerity then and now share some common elements, there are enough original arguments being presented by the BMF to make many of the criticisms ineffective. The paper reconstructs both views, the Treasury's and the BMF's, to show and evaluate their similarities and their differences.
There is also an obituary by Fernando Ferrari here (subscription required).
Matias Vernengo
Econ Prof at @BucknellU Co-editor of ROKE & Co-Editor in Chief of the New Palgrave Dictionary of Economics

Leave a Reply

Your email address will not be published. Required fields are marked *