The Paradox of Fiscal Austerity - How Cutting Deficits Saved the Modern World (Paperback)

If governments followed the optimal fiscal policy path, surpluses in good times would counter necessary deficits during economic downturns, leading to worldwide balance. The world, however, has chosen to go in a different direction in recent decades, avoiding thrift in light of a decidedly more indebted future. When financial crises kicked off a global recession in 2008, the spotlight placed on countries' fiscal conditions put pressure on policymakers around the globe to find a way to slow the growth of deficits and debt by imposing fiscal consolidations (or, more simply, austerity). How have these policies fared across the developed world? Were they even necessary to begin with? This book examines the many factors that have contributed to the success (or failure) of such policies, including timing, magnitude, accompanying policies, composition, and more, while explaining the economic rationale behind their choices.

General

Imprint:	Lexington Books
Country of origin:	United States
Release date:	June 2021
Authors:	Justin Velez-Hagan
Dimensions:	218 x 154 x 13mm (L x W x T)
Format:	Paperback
Pages:	222
ISBN-13:	978-1-4985-7195-1
Categories:	Books > Business & Economics > Economics > Political economy Books > Humanities > History > History of specific subjects > Economic history Books > Social sciences > Politics & government > Central government > Central government policies Books > History > History of specific subjects > Economic history Promotions
LSN:	1-4985-7195-6
Barcode:	9781498571951

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