The Politics of Austerity: A Dangerous and Deadly Policy

THE POLITICS OF AUSTERITY Governments around the world have characterized spending as reckless wastefulness that has made the economy worse. They have advanced a policy of draconian budget cuts--austerity--to solve the financial crisis. But the global turn to austerity, or the policy of reducing domestic wages and prices to restore competitiveness and balance the budget, is harmful to both governments and individuals. In this special program we hear from a variety of scholars about the dangers of austerity and the need to expand growth and opportunity with stimulus programs. We hear from: Mark Blyth, author of "AUSTERITY: The history of a dangerous idea"; Robert Kuttner, author of "DEBTORS' PRISON: The Politics of Austerity Versus Possibility"; Sanjay Basu, co-author of "THE BODY ECONOMIC: Why Austerity Kills"; and Ellen Brown, author of "THE PUBLIC BANK SOLUTION: From Austerity to Prosperity."