The June 2010 G20 marked the global policy shift from Keynesian stimulus to austerity

Evidence

That G20 meeting marked the moment when the rediscovery of Keynesian economics that had informed state responses to the global financial crisis since 2009 gave way to an economically more orthodox, and austere, reading of events. The G20 communiqué called for an end to re-flationary spending under the guise of something called “growth friendly fiscal consolidation,” which is a fancy way of saying “austerity.” — Mark Blyth, Austerity, 13

Categorization

• XREF: connects to: European officials pushed austerity during the G20 and ended global Keynesianism — Mark Blyth, Austerity: The History of a Dangerous…, 173; Global interdependence weakened national economic control and Keynesian policy — Anthony Giddens, The Consequences of Modernity, 188; The global Keynesian stimulus push lasted barely a year before backsliding — Mark Blyth, Austerity: The History of a Dangerous…, 160 (+3 more)

Broader Connections

• European officials pushed austerity during the G20 and ended global Keynesianism #corroborates (0.95) — Mark Blyth, Austerity, 173
• The global Keynesian stimulus push lasted barely a year before backsliding #expands (0.85) — Mark Blyth, Austerity, 160
• Broader neoliberal shifts enabled austerity’s return to economic common sense #complicates (0.75) — Mark Blyth, Austerity, 406
• Global interdependence weakened national economic control and Keynesian policy #qualifies (0.70) — Anthony Giddens, The Consequences of Modernity, 188
• China’s post-2008 investment surge filled the global slack of Western austerity #qualifies (0.70) — Yanis Varoufakis, Technofeudalism, 572