Monday, May 25, 2015

A couple of notes concerning "Austerity: a History of a Dangerous Idea" by Mark Blyth



  1. The premise supports my priors, so I like the book. Under capitalism the state can create growth, and it can disinhibit growth. The multiplier is greater than one.
  2. Blyth does hit on the Reinhart and Rogoff study early, but does address the failings later in the updated version.
  3. On page 204 in my version, he violates the Godwin Rule. He notes that German expansion westward in the thirties was helped by French post war austerity in the 20s. Ergo, austerity leads to Hitler.
  4. Page 77 includes a Monty Python reference, so his argument must be true.
  5. Overall, the book is an engaging read, and though it supports my priors, it defends them much better than I could.