Why Austerity Persists

This book explores the historical context and ongoing implementation of austerity policies, particularly their persistence despite evidence of ineffectiveness, as discussed in Why Austerity Persists.

In Why Austerity Persists, authors Shefner and Blad delve into the complex history of austerity policies, particularly highlighting their long-standing presence in the Global South. While many nations in the Global North have recently adopted these measures in response to financial crises, the authors argue that this approach is not new and has often been ineffective. They explore how these policies have been implemented over the past 45 years, providing a comprehensive analysis of their impact on various economies.

The book examines numerous international case studies to illustrate the multifaceted nature of austerity. Shefner and Blad discuss who bears the brunt of these policies and who stands to gain, shedding light on the often hidden beneficiaries of austerity measures. They argue that the adoption of such policies has been a response to different types of crises, with states often held accountable for the failings of private actors. This critical perspective invites readers to reconsider the rationale behind austerity and its persistent application in the face of mounting evidence of its ineffectiveness.

Why Austerity Persists is not just a historical account; it is a timely exploration of the political dynamics that sustain these policies. The book is an essential read for students, researchers, and policymakers interested in the intersections of globalization, development, and economic sociology, providing insights into why austerity remains a go-to solution for many governments worldwide.