Austerity Politics and UK Economic Policy

Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Conditions, History & Theory, Business & Finance
Cover of the book Austerity Politics and UK Economic Policy by Craig Berry, Palgrave Macmillan UK
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Author: Craig Berry ISBN: 9781137590107
Publisher: Palgrave Macmillan UK Publication: May 31, 2016
Imprint: Palgrave Macmillan Language: English
Author: Craig Berry
ISBN: 9781137590107
Publisher: Palgrave Macmillan UK
Publication: May 31, 2016
Imprint: Palgrave Macmillan
Language: English

Craig Berry assesses UK economic policy in the wake of the financial crisis through the lens of the austerity agenda, focusing on monetary policy, economic rebalancing, industrial and regional policy, the labour market, welfare reform and budgetary management. He argues that austerity is geared towards a resurrection of financialisation and the UK’s pre-crisis economic model, through the transformation of individual behaviour and demonisation of the state. Cutting public spending and debt in the short term is, at most, a secondary concern for the UK policy elite. However, the underlying purpose of austerity is frequently misunderstood due to its conflation with a narrow deficit reduction agenda, not least by its Keynesian critics. Berry also demonstrates how austerity has effectively dismantled the prospect of a centre-left alternative to neoliberalism.

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Craig Berry assesses UK economic policy in the wake of the financial crisis through the lens of the austerity agenda, focusing on monetary policy, economic rebalancing, industrial and regional policy, the labour market, welfare reform and budgetary management. He argues that austerity is geared towards a resurrection of financialisation and the UK’s pre-crisis economic model, through the transformation of individual behaviour and demonisation of the state. Cutting public spending and debt in the short term is, at most, a secondary concern for the UK policy elite. However, the underlying purpose of austerity is frequently misunderstood due to its conflation with a narrow deficit reduction agenda, not least by its Keynesian critics. Berry also demonstrates how austerity has effectively dismantled the prospect of a centre-left alternative to neoliberalism.

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