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Table of Contents
List of Figures; List of Tables; Introduction; Part I The Politics of the Debate; Austerity in the Tension Between Capitalism and Democracy; Part II The Two Sides of the Debate; Keynes Vs Hayek; Keynes Vs Hayek-Part I; Keynes Vs Hayek-Part II; Contemporary Arguments for Austerity; Some Evidence in Favour of Austerity; Literature on Possibly Expansionary Fiscal Adjustments; Debt and Growth; The Basic Exercise and Key Results; High-Debt Episodes in the Sample; Debt Thresholds and Nonlinearities: The 90% Benchmark; Thresholds; Nonlinear Relationship; Debt and Growth Causality
Growth-to-DebtDebt-to-Growth; Implications and Policy; References; Contemporary Arguments for Stimulus; A Brief Political and Economic History of Austerity; All of the Economic Research that Allegedly Supported the Austerity Push Has Been Discredited; Stimulus and Its Enemies; Conservatives like to Use the Alleged Dangers of Debt and Deficits as Clubs with Which to Beat the Welfare State and Justify Cuts in Benefits; The Austerity Moment; Greece Was the Disaster Austerians Were Looking for; Decline and Fall of the Austerity Cult; A Distinctly British Delusion
If the Political Opposition Won't Challenge the Coalition's Bad Economics, Who Will?Stimulus, not Austerity Is the Key to Global Economic Recovery; Part III Confidence: The Object of the Debate; Austerity: A Solution to Restore Markets' Confidence; Evidence on New Taxes Versus New Spending Cuts; IMF Research on the Austerity Composition Issue; Digging Deeper into Austerity's Composition; Conclusion; References; Myths of Austerity; Debating the Confidence Fairy; Confidence in the UK Is Different from the One in the Eurozone; References; Confidence Beyond Debt: The Role of Monetary Policy
Schizophrenic Confidence?What a Difference a Year Makes ...; Part IV Austerity vs Stimulus in the UK; Austerity for the UK; Stimulus for the UK; "Keynesian Austerity"; Britain's Confidence; The Economic Consequences of Mr. Osborne; Niall Ferguson's Wishful Thinking; More Keynesian Than Keynes; A Final Word with Ferguson; A Stimulus Policy for the UK; The Current Situation; Hysteresis; Blockage of Policy; The Public Accounts Trap; A British Investment Bank; Part V What's Next?; The Economics of Debt; George Osborne's Economics: Austerity in the UK; Conservatives and Keynes
The Political Power of AusterityJabko's Inept Opportunists; Thompson's Fundamentalists are Drunks Under the Lamppost; Streeck's Growth Crisis May not be a Crisis of Growth; References; List of Suggested Readings; Index
Growth-to-DebtDebt-to-Growth; Implications and Policy; References; Contemporary Arguments for Stimulus; A Brief Political and Economic History of Austerity; All of the Economic Research that Allegedly Supported the Austerity Push Has Been Discredited; Stimulus and Its Enemies; Conservatives like to Use the Alleged Dangers of Debt and Deficits as Clubs with Which to Beat the Welfare State and Justify Cuts in Benefits; The Austerity Moment; Greece Was the Disaster Austerians Were Looking for; Decline and Fall of the Austerity Cult; A Distinctly British Delusion
If the Political Opposition Won't Challenge the Coalition's Bad Economics, Who Will?Stimulus, not Austerity Is the Key to Global Economic Recovery; Part III Confidence: The Object of the Debate; Austerity: A Solution to Restore Markets' Confidence; Evidence on New Taxes Versus New Spending Cuts; IMF Research on the Austerity Composition Issue; Digging Deeper into Austerity's Composition; Conclusion; References; Myths of Austerity; Debating the Confidence Fairy; Confidence in the UK Is Different from the One in the Eurozone; References; Confidence Beyond Debt: The Role of Monetary Policy
Schizophrenic Confidence?What a Difference a Year Makes ...; Part IV Austerity vs Stimulus in the UK; Austerity for the UK; Stimulus for the UK; "Keynesian Austerity"; Britain's Confidence; The Economic Consequences of Mr. Osborne; Niall Ferguson's Wishful Thinking; More Keynesian Than Keynes; A Final Word with Ferguson; A Stimulus Policy for the UK; The Current Situation; Hysteresis; Blockage of Policy; The Public Accounts Trap; A British Investment Bank; Part V What's Next?; The Economics of Debt; George Osborne's Economics: Austerity in the UK; Conservatives and Keynes
The Political Power of AusterityJabko's Inept Opportunists; Thompson's Fundamentalists are Drunks Under the Lamppost; Streeck's Growth Crisis May not be a Crisis of Growth; References; List of Suggested Readings; Index