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Author Schui, Florian, 1973-

Title Austerity : the great failure / Florian Schui.

Publication Info. New Haven : Yale University Press, [2014]


Location Call No. OPAC Message Status
 Axe 3rd Floor Stacks  339.47 Sch79a 2012    ---  Available
Description 219 pages ; 23 cm
text rdacontent
unmediated rdamedia
volume rdacarrier
Bibliography Includes bibliographical references (p. [195]-201) and index.
Contents Introduction -- Austere ideas for austere societies : from Aristotle to Aquinas -- Austerity v. reason : from Mandeville to Voltaire -- Austerity for capitalism : from Smith to Weber -- Austerity for stability : from the Great War to the next -- Austerity can wait : Keynes -- Austerity for the state : Hayek -- Austerity for the planet : green ideas of consumption -- Is greed good?
Summary Austerity is at the center of political debates today. Its defenders praise it as a panacea that will prepare the ground for future growth and stability. Critics insist it will precipitate a vicious cycle of economic decline, possibly leading to political collapse. But the notion that abstinence from consumption brings benefits to states, societies, or individuals is hardly new. This book puts the debates of our own day in perspective by exploring the long history of austerity - a popular idea that lives on despite a track record of dismal failure. Florian Schui shows that arguments in favor of austerity were - and are today - mainly based on moral and political considerations, rather than on economic analysis. Unexpectedly, it is the critics of austerity who have framed their arguments in the language of economics. Schui finds that austerity has failed intellectually and in economic terms every time it has been attempted. He examines thinkers who have influenced our ideas about abstinence from Aristotle through such modern economic thinkers as Smith, Marx, Veblen, Weber, Hayek, and Keynes, as well as the motives behind specific twentieth-century austerity efforts. The persistence of the concept cannot be explained from an economic perspective, Schui concludes, but only from the persuasive appeal of the moral and political ideas linked to it.
Subject Consumption (Economics) -- History.
Thriftiness -- History.
Saving and investment -- History.
Economic policy -- History.
Consumption (Economics) (OCoLC)fst00876455
Economic policy. (OCoLC)fst00902025
Saving and investment. (OCoLC)fst01105959
Thriftiness. (OCoLC)fst01746930
Genre/Form History. (OCoLC)fst01411628
ISBN 9780300203936 (cl : alk. paper)
0300203934 (cl : alk. paper)

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