The Age Of Austerity

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 countryÍs aging infrastructures; and (3) mortgage relief to revitalize the nationÍs 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.

In a world of increasing austerity measures, democratic politics comes under pressure. With the need to consolidate budgets and to accommodate financial markets, the responsiveness of governments to voters declines. However, democracy depends on choice. Citizens must be able to influence the course of government through elections and if a change in government cannot translate into different policies, democracy is incapacitated. Many mature democracies are approaching this situation as they confront fiscal crisis. For almost three decades, OECD countries have - in fits and starts - run deficits and accumulated debt. As a result, an ever smaller part of government revenue is available today for discretionary spending and social investment and whichever party comes into office will find its hands tied by past decisions. The current financial and fiscal crisis has exacerbated the long-term shrinking government discretion; projects for political change have lost credibility. Many citizens are aware of this situation: they turn away from party politics and stay at home on Election Day. With contributions from leading scholars in the forefront of sociology, politics and economics, this timely book will be of great interest to students and scholars throughout the social sciences as well as general readers.

In the face of the gradual saturation of US public education by the logics of neoliberalism, educators often find themselves at a loss to respond, let alone resist. Through state defunding and many other “reforms” fueled by austerity politics, a majority of educators are becoming casual labor in US universities while those who hang onto secure employment are pressed to act as self-supporting entrepreneurs or do more with less. Focusing on the discipline of writing studies, this collection addresses the sense of crisis that many educators experience in this age of austerity. The chapters in this book chronicle how neoliberal political economy shapes writing assessments, curricula, teacher agency, program administration, and funding distribution. Contributors also focus on how neoliberal political economy dictates the direction of scholarship, because the economic and political agenda shaping the terms of work, the methods of delivery, and the ways of valuing and assessing writing also shape the primary concerns and directions of scholarship. Composition in the Age of Austerity offers critical accounts of how the restructuring of higher education is shaping the daily realities of composition programs. The book documents the effects and implications of the current restructuring, examines how cherished rhetorical ideals actually leave the field unprepared to respond effectively to defunding and corporatizing trends, and establishes points of departure for collective response.

In November 1999 the first protests associated with the 'anti-globalisation movement' took place in Seattle, and came to be seen as the starting point for globalised resistance to neoliberal capitalism. Despite initial optimism, the following years have seen little progress in formulating a coherent alternative to neoliberalism, a failure that has become particularly poignant in the aftermath of the recent credit crisis. Now, the neoliberal mandate that appeared to be in 'crisis' in just 2008 has reinvented itself through the guise of a new 'era of austerity'. In this timely book, Worth assesses the growing diversity of resistance to neoliberalism - progressive, nationalist and religious - and argues that, troublingly, the more reactionary alternatives to globalisation currently provide just as coherent a base for building opposition as those associated with the traditional 'left-wing' anti-globalisation movements. From the shortcomings of the Occupy movement to the rise of Radical Islam, the re-emergence of the far-right in Western Europe to the startling impact of the Tea Party in the US - Worth shows that while a progressive alternative is possible, it cannot be taken for granted.

Provides researchers with a novel methodological tool to study interactions between governments, challengers, and third-party actors.

One of our most prescient political observers provides a sobering account of how pitched battles over scarce resources will increasingly define American politics in the coming years—and how we might avoid, or at least mitigate, the damage from these ideological and economic battles. In a matter of just three years, a bitter struggle over limited resources has enveloped political discourse at every level in the United States. Fights between haves and have-nots over health care, unemployment benefits, funding for mortgage write-downs, economic stimulus legislation—and, at the local level, over cuts in police protection, garbage collection, and in the number of teachers—have dominated the debate. Elected officials are being forced to make zero-sum choices—or worse, choices with no winners. Resource competition between Democrats and Republicans has left each side determined to protect what it has at the expense of the other. The major issues of the next few years—long-term deficit reduction; entitlement reform, notably of Social Security, Medicare, and Medicaid; major cuts in defense spending; and difficulty in financing a continuation of American international involvement—suggest that your-gain-is-my-loss politics will inevitably intensify.

For decades, public sector unions in Canada have been plagued by austerity, privatization, taxpayer backlash and restrictions on union rights. In recent years, the intensity of state-led attacks against public sector workers has reached a fevered pitch, raising the question of the role of public sector unions in protecting their members and the broader public interest. Public Sector Unions in the Age of Austerity examines the unique characteristics of public sector unionism in a Canadian context. Contributors to this multi-disciplinary collection explore both the strategic possibilities and challenges facing public sector unions that are intent on resisting austerity, enhancing their power and connecting their interests as workers with those of citizens who desire a more just and equitable public sphere.

Through a case study in a Chicago public school, Means demonstrates that, despite the fragmentation of human security in low-income and racially segregated public schools, there exist positive social relations, knowledge, and desire for change that can be built upon to promote more secure and equitable democratic futures for young people.