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Record Nr. |
UNINA9910809978503321 |
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Autore |
Major Aaron |
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Titolo |
Architects of austerity : international finance and the politics of growth / / Aaron Major |
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Pubbl/distr/stampa |
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Stanford, California : , : Stanford University Press, , 2014 |
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©2014 |
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ISBN |
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Descrizione fisica |
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1 online resource (265 p.) |
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Disciplina |
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Soggetti |
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Economic policy |
International finance |
Economic history - 1945- |
Economic development - Government policy |
Government spending policy |
Neoliberalism |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references and index. |
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Nota di contenuto |
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Front matter -- Contents -- Illustrations -- Acknowledgments -- 1. Crisis, Austerity, and the Neoliberal Turn -- 2. The Architects of Austerity -- 3. The Question of Growth in a Global Economy -- 4. Adjustment in Practice -- 5. The Erratic March of Labour -- 6. Global Finance and the U.S. Growth Agenda -- 7. Guns, Butter, and Gold -- 8. Globalization, Coercion, and the Resiliency of Austerity -- Notes -- Bibliography -- Index |
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Sommario/riassunto |
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Architects of Austerity argues that the seeds of neoliberal politics were sown in the 1950's and 1960's. Suggesting that the postwar era was less socially democratic than we think, Aaron Major presents a comparative-historical analysis of economic policy in the United States, the United Kingdom, and Italy during the early 1960's. In each of these cases, domestic politics shifted to the left and national governments repudiated the conservative economic policies of the past, promising a new way forward. Yet, these social democratic experiments were short-lived and deeply compromised. Why did the parties of change become the parties of austerity? Studies of social welfare policy in these |
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countries have emphasized domestic factors. However, Major reveals that international social forces profoundly shaped national decisions in these cases. The turn toward more conservative economic policies resulted from two critical shifts on the international stage. International monetary organizations converged around an orthodox set of ideas, and a set of institutional transformations within the Bretton Woods system made the monetary community more central to financial management. These changes gave central banks and treasuries the capacity to impose their ideas on national governments. Architects of Austerity encourages us to critically consider the power that we vest in public financial authorities, which have taken on an ever larger role in international economic regulation. |
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