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March 2011

"Austerity" in the Context of the Global Economic Downturn


For nearly two centuries years economists from John Stuart Mill through Walter Bagehot and John Maynard Keynes and Milton Friedman to Ben Bernanke have known that a depression caused by a financial panic is not properly treated by starving the economy of liquid cash money and of public demand.

So why does "austerity" have such extraordinary purchase on the minds of North Atlantic politicians right now?


  • Chair, J. Bradford DeLong, UCB Economics (The End of Influence: What Happens When Other Countries Have the Money)
  • Speaker, Joseph Lough, UCB Political Economy (Max Weber and the Persistence of Religion)
  • Speaker, Rakesh Bhandari, UCB Interdisciplinary Studies ("Slavery and Wage Labour in History")

Location: Blum Hall Plaza Level

Time: 2:10-2:40: Panelists. 2:40-3:10: Discussion. 3:10-4:00: Reception.

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