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When the Party's Over: The Politics of Fiscal Squeeze in Perspective
Hardcover
Series: Proceedings of the British Academy, Book 197
EconomicsGeneral Political Science
ISBN13: 9780197265734
Publisher: British Academy
Published: Dec 9 2014
Pages: 296
Weight: 1.36
Height: 1.00 Width: 6.30 Depth: 9.30
Language: English
The politics of cutting public spending or raising taxes (or both) has dominated politics in many democracies in recent years. A new era of conflict has developed, with old political alignments being tested and new battles emerging over whose expectations are to be disappointed and who should be blamed for fiscal squeeze.
It combines quantitative and qualitative analysis to examine cases ranging from the fiscal squeeze in the United States in the 1830s/40s (when half of the states then in the Union defaulted) to the squeeze following the 2001 Argentinian default. It assesses who were the winners and losers, who got the blame and what were the longer-term effects on politics and government. It argues that 'how to do it' approaches to fiscal squeeze in democracies, based on apparently successful cases, often fail to take into account profound differences in circumstances.
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