Social Sciences
2 years ago

Austerity arguments from 1920s to 2010s: Impact on global economies.

European Journal of Economics and Economic Policies Intervention
Arguments for austerity, old and new: the British Treasury in the 1920s and the Bundesfinanzministerium in the 2010s
Fernando J. Cardim de Carvalho

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The article compares arguments for austerity in the 1920s and 2010s, focusing on the British Treasury and the German Federal Ministry of Finance. Both time periods saw debates on austerity measures after financial crises. While some criticisms of austerity programs are similar, the German Ministry of Finance presents new arguments that challenge these criticisms. The paper examines the similarities and differences between the two views to evaluate their effectiveness.