whos to blame for greece austerity in charge of saving a broken economy

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Who S To Blame For Greece

Author : Theodore Pelagidis
ISBN : 9781137549211
Genre : Business & Economics
File Size : 75. 8 MB
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The Euro constitutes the crowning achievement of a prolonged process of integration between European states. It incarnates the vision for a united and prosperous Europe: the attainment of major political goals through the promotion of closer economic cooperation. However, the 2009 crisis brought the EU head-to-head again with its perennial threat – the short-term interests of member states. Greece's economy symbolizes in many ways the Euro area's economic problems and divergent interests as it amasses most of the economic disadvantages characterizing the Euro area's economy itself. After almost five years since inception of the crisis, Greece's economy today is in the headlines again – this time for the so-called political risk. This book discusses the economic and political challenges to Greece and the EU member states.


Author : Mark Blyth
ISBN : 9780199389445
Genre : Business & Economics
File Size : 71. 61 MB
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Selected as a Financial Times Best Book of 2013 Governments today in both Europe and the United States have succeeded in casting government spending as reckless wastefulness that has made the economy worse. In contrast, they have advanced a policy of draconian budget cuts--austerity--to solve the financial crisis. We are told that we have all lived beyond our means and now need to tighten our belts. This view conveniently forgets where all that debt came from. Not from an orgy of government spending, but as the direct result of bailing out, recapitalizing, and adding liquidity to the broken banking system. Through these actions private debt was rechristened as government debt while those responsible for generating it walked away scot free, placing the blame on the state, and the burden on the taxpayer. That burden now takes the form of a global turn to austerity, the policy of reducing domestic wages and prices to restore competitiveness and balance the budget. The problem, according to political economist Mark Blyth, is that austerity is a very dangerous idea. First of all, it doesn't work. As the past four years and countless historical examples from the last 100 years show, while it makes sense for any one state to try and cut its way to growth, it simply cannot work when all states try it simultaneously: all we do is shrink the economy. In the worst case, austerity policies worsened the Great Depression and created the conditions for seizures of power by the forces responsible for the Second World War: the Nazis and the Japanese military establishment. As Blyth amply demonstrates, the arguments for austerity are tenuous and the evidence thin. Rather than expanding growth and opportunity, the repeated revival of this dead economic idea has almost always led to low growth along with increases in wealth and income inequality. Austerity demolishes the conventional wisdom, marshaling an army of facts to demand that we austerity for what it is, and what it costs us.

The Body Economic

Author : David Stuckler
ISBN : 1443420441
Genre : Global Financial Crisis, 2008-2009
File Size : 57. 37 MB
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Recessions can hurt . . . but austerity kills In The Body Economic, Dr. David Stuckler and Dr. Sanjay Basu provide hard evidence to reveal the tragic human toll of the ongoing recession worldwide. From a rise in alcoholism in the UK to scores of suicides in California to HIV outbreaks and abandoned children in Greece, the book tells the stories of people who were not bailed out and who are now bearing the brunt of the 2007 stock-market crash. The authors argue that this suffering is not inevitable. Based on a decade of groundbreaking research stretched across five continents, The Body Economic shows how key public health decisions can affect the impact of financial crises for better or for worse. Urgent and provocative, The Body Economic draws attention to a growing area of "recession medicine." It speaks to a hopeful audience, not only providing evidence of the realities of recession and illness but also presenting illuminating case studies of resilience and creative response to difficult conditions. The authors show that recession can provide opportunities to tackle long-standing public-health problems in surprising new ways, paving the way for a happier and healthier future.

This Changes Everything

Author : Naomi Klein
ISBN : 9781451697384
Genre : Business & Economics
File Size : 58. 76 MB
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Explains why the environmental crisis should lead to an abandonment of "free market" ideologies and current political systems, arguing that a massive reduction of greenhouse emissions may offer a best chance for correcting problems.

The Euro

Author : Joseph Stiglitz
ISBN : 0241258154
Genre :
File Size : 70. 96 MB
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Crisis In The Eurozone

Author : Costas Lapavitsas
ISBN : 9781781680414
Genre : Political Science
File Size : 30. 76 MB
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First, there was the credit crunch, and governments around the world stepped in to bail out the banks. The sequel to that debacle is the sovereign debt crisis, which has hit the eurozone hard. The hour has come to pay the piper, and ordinary citizens across Europe are growing to realize that socialism for the wealthy means punching a few new holes in their already-tightened belts. Building on his work as a leading member of the renowned Research on Money and Finance group, Costas Lapavitsas argues that European austerity is counterproductive. Cutbacks in public spending will mean a longer, deeper recession, worsen the burden of debt, further imperil banks, and may soon spell the end of monetary union itself. Crisis in the Eurozone charts a cautious path between political economy and radical economics to envisage a restructuring reliant on the forces of organized labour and civil society. The clear-headed rationalism at the heart of this book conveys a controversial message, unwelcome in many quarters but soon to be echoed across the continent: impoverished states have to quit the euro and cut their losses or worse hardship will ensue.

Saving Capitalism

Author : Robert Reich
ISBN : 9781785780684
Genre : Business & Economics
File Size : 47. 69 MB
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Do you recall a time when the income of a single schoolteacher or baker or salesman or mechanic was enough to buy a home, have two cars, and raise a family? Robert Reich does – in the 1950s his father sold clothes to factory workers and the family earnt enough to live comfortably. Today, this middle class is rapidly shrinking: American income inequality and wealth disparity is the greatest it’s been in eighty years. As Reich, who served in three US administrations, shows, the threat to capitalism is no longer communism or fascism but a steady undermining of the trust modern societies need for growth and stability. With an exclusive chapter for Icon’s edition, Saving Capitalism is passionate yet practical, sweeping yet exactingly argued, a revelatory indictment of the economic status quo and an empowering call to action.

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