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The Age of Austerity
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The Age of Austerity

The Global Financial Crisis and the Return to Economic Growth

9781781951446 Edward Elgar Publishing
Thomas J. Schoenbaum, Harold S. Shefelman Professor of Law, University of Washington, US
Publication Date: 2012 ISBN: 978 1 78195 144 6 Extent: 224 pp
The book begins with a detailed breakdown of the financial crisis and the government response in the United States, with particular focus on the Dodd-Frank Wall Street Reform and Consumer Protection Act. The author then puts forth a basic three-part plan calling for (1) fundamental tax and entitlement reform; (2) massive economic stimulus in the form of public and private investment to modernize the country’s aging infrastructures; and (3) mortgage relief to revitalize the nation’s housing markets. The book concludes with specific policy proposals designed to achieve these goals and return the US economy to a state of full employment and robust economic growth.

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This provocative look at the global financial crisis argues that the United States, the European Union and Japan have intentionally and unwittingly adopted wrong-headed economic policies in a futile attempt to deal with sovereign debt resulting from the global financial crisis. It offers persuasive evidence of how the politics of austerity fail to encourage economic recovery, and proposes instead a number of alternative ideas and solutions.

The book begins with a detailed breakdown of the financial crisis and the government response in the United States, with particular focus on the Dodd-Frank Wall Street Reform and Consumer Protection Act. The author then puts forth a basic three-part plan calling for (1) fundamental tax and entitlement reform; (2) massive economic stimulus in the form of public and private investment to modernize the country’s aging infrastructures; and (3) mortgage relief to revitalize the nation’s housing markets. The book concludes with specific policy proposals designed to achieve these goals and return the US economy to a state of full employment and robust economic growth.

This timely and insightful volume will appeal to students and scholars of economics, public policy and finance, as well as anyone with an interest in the recent economic history of the United States.
Contents
Contents: Foreword by Pascal Lamy, Director General of the World Trade Organization Preface 1. An Historic Turning Point 2. The Course of the Crisis 3. Causes 4. Emergency Fiscal and Monetary Measures 5. International Reforms 6. The Regulatory Answer 7. Assaulting Austerity 8. A Reprise of the Argument Index

This title is available for institutional purchase via Elgaronline.

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eISBN: 978 1 78195 145 3
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