Austerity: the history of a dangerous idea

Austerity is the order of the day in Europe, but Professor Mark Blyth argues that austerity is a very dangerous idea and does not work. While it makes sense for any one state to try and cut its way to growth, it simply cannot work when all states try it simultaneously: all we do is shrink the economy.

Presenter:

Paul Barclay

Guest:

Mark Blyth

Professor of International Political Economy at Brown University