Austerity's coming back. Here's why it never works

Austerity is a staple fixture of our political system. How did it become such a dominant economic policy? And is it really a ‘prudent’ and ‘realistic’ way of organising our economics? Philosopher and historian Clara Mattei, author of The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism joins Ahir Shah to explore how austerity came to become the water we swim in and why we can’t imagine a world without it. “Austerity has become the water we swim in.”  “We use very specific economic models from the 1900s, in which the worker loses agency while the entrepreneur is championed.” “The purpose isn’t to ‘trickledown’, it is to incentivise those at the top.” “In the US the richest 400 families pay the lowest tax.” “Even Lenin had to accept austerity.”  Support us on Patreon: https://www.patreon.com/bunkercast Written and presented by Ahir Shah. Producers: Jet Gerbertson, Alex Rees. Assistant producer: Kasia Tomasiewicz. Lead producer: Jacob Jarvis. Bunker music by Kenny Dickinson. Audio production by Jade Bailey. Group Editor: Andrew Harrison. THE BUNKER is a Podmasters Production Instagram | Twitter Learn more about your ad choices. Visit podcastchoices.com/adchoices