The Wars of Austerity

The effects of austerity

After Austerity

Europe s Austerity Zombies

Alternatives to Austerity

The Austerity Pandemic

Clarity about Austerity

Start with austerity.

Misconceiving British Austerity

Austerity and Demoralization

End Austerity Now

Greece and the Limits of Anti Austerity

Taming Finance in an Age of Austerity

The Greek Austerity Myth

Austerity and Debt Realism

Europe s Irrelevant Austerity Debate

Austerity in Small Places

The Wrong Austerity Cure

Two other consequences of austerity are less appreciated.

Fiscal Austerity Versus European Society

Austerity Is Not Greece s Problem

A Green Alternative to Austerity?

Austerity alone cannot do it.

Austerity Politics, Then and Now

Does Austerity Promote Economic Growth?

Learning About Growth from Austerity

Ireland and the Austerity Debate

Some kinds of austerity programs may indeed boost morale.

Fiscal austerity is a poor substitute.

And there are signs of austerity and reform fatigue both in Spain and Italy, where demonstrations, strikes, and popular resentment against painful austerity are mounting.

But austerity is not the only dimension of the debate.

This sensible sounding logic currently underpins austerity.

People developed these habits on the basis of the experiences of their families and friends when in debt trouble, one must cut spending and pass through a period of austerity until the burden (debt relative to income) is reduced.

If the interest rate is higher than the growth rate, austerity is required the wider the gap, the more austerity is needed.

Acknowledging the limits of austerity, several initiatives attempt a European resolution.

Germany, the arch advocate of austerity, is right on this point.

Many inside and outside of Germany declare that both austerity and more growth are needed, and that more emphasis on growth does not mean any decrease in austerity.

Austerity has failed, and there is no prospect of a return to full employment any time soon (not surprisingly, prospects for America, with its milder version of austerity, are better).

The problem is that austerity has perverse effects.

Mass anti austerity protests are one warning sign.

Right or wrong, Ireland will stick with austerity.

In these circumstances, austerity is exactly the opposite of what is needed.

Austerity, according to some of its promoters, is supposed to improve morale.

After the period of rapid economic growth ended, Europe s leaders came to rely, instead, on the threat of an evil that is greater than austerity further destabilization of debtor countries, leading to default, expulsion from the eurozone, and economic, social, and political collapse.

Yes, Europe needs structural reform, as austerity advocates insist.