Blyth, M. (2015). Austerity: The History of a Dangerous Idea. Oxford University Press.
during the Belle Epoque, states were neither large enough to pursue any policy other than laissez-faire (specifically, austerity) nor democratic enough for that to pose a problem for austerity. link to gold standard as well: cutting wages/prices to remain on the standard only works if you're not a democracy (otherwise people revolt)
during the Belle Epoque, states were neither large enough to pursue any policy other than laissez-faire (specifically, austerity) nor democratic enough for that to pose a problem for austerity. link to gold standard as well: cutting wages/prices to remain on the standard only works if you're not a democracy (otherwise people revolt)
3 / 2tl;dr tax the rich
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