Austerity is an effective class-structure instrument, not an economic error

Evidence

Much economic research has established that austerity has almost never worked as promised, neither stimulating growth nor reducing debt. So why does it continue to be the preferred course of action for governments? We cannot simply attribute its structural presence to the stupidity or corruption of those in government. The true measure of austerity’s effectiveness is its ability to impose and reinforce a class structure, the very order that underpins economic growth. In this sense, austerity has never been an irrational calculation. — Clara E. Mattei, Escape from Capitalism, 142

Categorization

• DEEPTHINKING: This is the load-bearing provocation of the entire book — austerity reframed from an economic policy that fails to a class instrument that succeeds at its real purpose. Dense enough to sit with.
• SEED: Essay angle: ‘When a policy keeps failing at its stated goal but keeps being chosen, ask what it’s actually for.’ The functionalist reading of persistent policy failure.
• XREF: connects to: Austerity rests on a fallacy of composition, not a confidence problem — Mark Blyth, Austerity: The History of a Dangerous…, 45; Regressive taxation and spending cuts serve the same class-confiscating function — Clara E. Mattei, Escape from Capitalism, 150; Austerity is economically irrational yet politically rational for preserving capitalism (+12 more)