Architects of Austerity - by Aaron Major (Hardcover)

About the Book

Architects of Austerity presents a new interpretation of the ascent of neoliberal policy, tracing its spread to the growing influence of central banks and treasuries in the management of the global economy.

Book Synopsis

Architects of Austerity presents a new interpretation of the ascent of neoliberal policy, tracing its spread to the growing influence of central banks and treasuries in the management of the global economy.

Review Quotes

"Architects of Austerity is a provocative and informative rewriting of the political economic history of the capitalist world in the 1960s, challenging our conception of the decade as a decade of high Keynesianism. It debunks the conventional assumption that the ideology of austerity had been sidelined in postwar era, showing that it never went away and has been deeply embedded in international financial authorities."--Ho Fung Hung "Johns Hopkins University"

"Major contextualizes domestic political transformations during this era--namely, the shift from social welfare to economic austerity--within larger institutional and ideological changes at the international level. His book explicates how policies implemented by international monetary authorities produced social and political effects far beyond the institutions and economies they ere intended to (de)regulate . . . Recommended."--E. L. Whalen "CHOICE"

"Major has certainly produced a tightly argued and focused analysis, which insightfully and convincingly demonstrates the perseverance of classical liberal ideas and their role in constructing specific policy prescriptions throughout the postwar era. Architects of Austerity offers a unique and valuable lens on the origins of contemporary neoliberal economic policy."--Timothy W. Wintour "H-Diplo"

"Major provides persuasive evidence that the positions of transnational authorities--especially German, Dutch, and Swiss ministers and central bank presidents--weighed heavily on the policy considerations of domestic governments . . . [B]oth interesting and well written, this book sheds light on pressing questions in historical political economy."--Stephanie L. Mudge "American Journal of Sociology"

"This is a fine book on a timely topic. Aaron Major's argument is global in scope and draws on a wide range of archival documents to come to a fascinating conclusion: that the main actors in the rise of austerity are central banks, and that neoliberalism in monetary policy actually began not in the 1970s, but in the 1950s and 1960s. Architects of Austerity clearly advances our knowledge of some of the most important issues of our day."--Monica Prasad "Northwestern University"

About the Author

Aaron Major is Assistant Professor of Sociology at the State University of New York, Albany.