Interwar elites framed fiscal contraction as the individual duty of recovery

Evidence

Increased production, cessation of Government borrowings, and decreased expenditure both by the Government and by each individual member of the nation are the fi rst essentials to recovery. — Clara E. Mattei, The Capital Order, 821

Categorization

• DEFINE: A concise statement of the austerity dogma: recovery = produce more, spend less, at every level.
• XREF: connects to: Interwar international institutions framed balanced budgets as a truth citizens needed coercion to accept — Clara E. Mattei, The Capital Order: How Economists…, 723; Postwar financial officials elevated balanced budgets to a universal moral principle — Clara E. Mattei, The Capital Order: How Economists…, 1683; Keynesianism converted interwar resistance to finance into postwar stability. — Max Haiven, Cultures of Financialization, 511 (+1 more)

Broader Connections

• Postwar financial officials elevated balanced budgets to a universal moral principle #expands (0.82) — Clara E. Mattei, The Capital Order, 1683
• Postwar Labour settlement redistributed wealth via Keynesian economic measures #corroborates (0.78) — Hall, Stuart, Essential Essays, Volume 1, 1059
• Keynesianism converted interwar resistance to finance into postwar stability. #corroborates (0.75) — Max Haiven, Cultures of Financialization, 511