Austerity since colonial times has devastated the global periphery

Evidence

This capital trap, which Italy experiences firsthand as a periphery of Europe, is even more ferocious in the global periphery, where the austerity motto “Consume less, produce more,” perpetuated since colonial times, leads to devastating results. — Clara E. Mattei, Escape from Capitalism, 288

Categorization

• XREF: connects to: Austerity became self-defeating because it worsened the deficits it claimed to fix — Mark Blyth, Austerity: The History of a Dangerous…, 516; Austerity was imposed on the developing world well before the current crisis — Mark Blyth, Austerity: The History of a Dangerous…, 273; Austerity was tested on the Global South before the developed world. — Mark Blyth, Austerity: The History of a Dangerous…, 432 (+8 more)

Broader Connections

• Integration into global capitalism reinforces, not relieves, the periphery’s subordination #expands (0.85) — Clara E. Mattei, Escape from Capitalism, 292
• Austerity disciplines workers within both colonizer and colonized nations alike #expands (0.82) — Clara E. Mattei, Escape from Capitalism, 339
• Formal decolonization gave way to a neo-imperial global economic order #corroborates (0.80) — Stuart Hall, Essential Essays, Volume 2, 315
• Globalization weakens national sovereignty while deepening global inequalities #corroborates (0.75) — Stuart Hall, Essential Essays, Volume 2, 319