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Assessing Austerity



This special issue brings together some of the most influential articles on austerity published by the Cambridge Journal of Economics, The Cambridge Journal of Regions, Economy and Society, and Contributions to Political Economy, which reflect on the history, theoretical justification, and the spatial and social implications of austerity policies. This remarkable range of articles explores the political economy of austerity policies – its intellectual origins and justifications, the politics and politicking surrounding austerity, and its uneven spatial and distributional implications.

An introduction to Assessing Austerity 
Sue Konzelmann, Mia Gray and Betsy Donald

The Political Economics of Austerity 
Konzelmann, S.J

Does High Public Debt Consistently Stifle Economic Growth? A critique of Reinhart and Rogoff 

Herndon, T., M. Ash and R. Pollin

The Consequences of Fiscal Stimulus on Public Debt: a Historical Perspective 
McCausland, W.D. and I. Theodossiou

The Four Fallacies of Contemporary Austerity Policies: the Lost Keynesian Legacy 
Boyer, R

On the Franco-German Euro Contradiction and Ultimate Euro Battleground 
Bibow, J.

US Government Deficits and Debt Amid the Great Recession: what the Evidence Shows 

Pollin, R.

Fiscal Deficits, Economic Growth and Government Debt in the USA 

Taylor, L., C. Proano, L. de Carvalho and N. Barosa

Is Ireland Really the Role Model for Austerity? 
Kinsella, S

Expansionary Fiscal Consolidations: Theoretical Underpinnings and their Implications for the Eurozonen 
Foresti, P and U. Marani

Anomalies of Spain's Economy and Economic Policy-making 
Fishman, R

Keynes and the Confidence Faeries 
Considine, J. and D. Duffy.

The Tragedy of UK Fiscal Policy in the Aftermath of the Financial Crisis 
Sawyer, M.

California Shrugged: Fountainhead of the Great Recession
 
Bardhan, A and R. Walker

Dire Consequences: the Conservative Recapture of America’s Political Narrative? 
Coates, D.

Pushing Austerity: State Failure, Municipal Bankruptcy and the Crises of Fiscal Federalism in the USA 
Peck, J.

Picking up the Pieces’: Austerity Urbanism, California and Fiscal Crisis 
Davidson, M. and K. Ward

The Great Austerity War: What Caused the US Deficit Crisis and Who Should Pay to Fix It? 
Crotty, J.

Commentary: Contradictions of Austerity 
Callinicos, A.

Europe's Crisis without End: The Consequences of Neoliberalism 
Palley, T.

Iceland’s Rise, Fall, Stabilisation and Beyond 
Wade, R. and S.Sigurgeirsdottir

State Rescaling and Local Governments' Austerity Policies Across the USA, 2001–2008 
Lobao, L. and L. Adua

Austerity in the City: Economic Crisis and Urban Service Decline? 
Donald, B. A. Glasmeier, M. Gray and L. Lobao

A ‘New Politics’ of Austerity, Workfare and Gender? The UK Coalition Government's Welfare Reform Proposals 
MacLeavy, J.

Austerity in America: Gender and Community Consequences of Restructuring the Public Sector 
Glasmeier, A. and C. Lee-Chuvala

The Geographies of Austerity 
Kitson, M., R. Martin and P. Tyler

The Local and Regional Impact of the UK’s Welfare Reforms 
Beatty, C and S. Fothergill
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