Will Expansion Work? On Mark Blyth, Austerity: The History of a Dangerous Idea

Streeck, Wolfgang

doi:10.1057/cep.2013.23

アイテム詳細

登録内容を編集ファイル形式で保存

一時保存へ追加

タグ情報を表示リリース履歴を表示詳細要約

公開

学術論文

Will Expansion Work? On Mark Blyth, Austerity: The History of a Dangerous Idea

MPS-Authors

/persons/resource/persons41304

Streeck, Wolfgang
Institutioneller Wandel im gegenwärtigen Kapitalismus, MPI for the Study of Societies, Max Planck Society;

External Resource

http://dx.doi.org/10.1057/cep.2013.23
(出版社版)

Fulltext (restricted access)

There are currently no full texts shared for your IP range.

フルテキスト (公開)

CEP_11_2013_Streeck.pdf
(全文テキスト（全般）), 455KB

付随資料 (公開)

There is no public supplementary material available

引用

Streeck, W. (2013). Will Expansion Work? On Mark Blyth, Austerity: The History of a Dangerous Idea. Comparative European Politics, 11(6), 722-728. doi:10.1057/cep.2013.23.

引用: https://hdl.handle.net/11858/00-001M-0000-0014-BE3D-0

要旨

Blyth shows convincingly that ‘Austerity does not work’. But he seems to imply that financial repression, higher taxes and monetary expansion would. Are they really compatible, however? Financial repression requires growth, real or nominal. Real growth is widely believed to require lower, not higher taxes. Nominal growth, that is inflation, is difficult to contain as well as to bring about, given trade union weakness and widespread dependence on fixed transfer incomes. Monetary expansion, finally, may simply add to general indebtedness, as it has since the late 1970s when real growth embarked on a long-term decline.