Draconian austerity measures do not work

What this episode covers

When austerity policies are linked positively to structured measures and discipline at a macro-economic level, the strategy works. However, just rapid and deep austerity cuts do not. Dr Christos Pitelis warns that austerity measures on their own forces governments to simultaneously take steps to improve economic competitiveness, causing output to fall followed by a failure to revive economies. Austerity measures alone are widely seen as a bad move.

PodParley-generated summary based on available episode metadata and transcript content.

Share this episode

Similar Episodes

No similar episodes found.

Similar Podcasts

BRICS and beyond (CIBAM Global Business Symposium) CambridgeJBS The CIBAM July 2011 Global Business Symposium on 'BRICS and Beyond' adventured into the unknown territory of which economies will be dominant when the pages of the future are turned to 2050! It also celebrated 15 years of collaboration with Diageo, its sponsor, and flagged up the uncanny knack of the CIBAM Board, drawn from business and academia, to pick topics for discussion which become the talking points for opinion leaders two years later. Green business and green values (CIBAM Global Business Symposium) CambridgeJBS Corporations and governments are having to face up to the new challenges of how to operate in a global business environment where the financial sector is broken and needs fixing, and protecting the environment is a major concern for all. "Sustainable competitiveness" is the new catch phrase as business leaders and government's embrace a different language. Phrases like "business ethics", "environmental protection" and "wealth distribution" are being talked about in board rooms and cabinets around the globe.The Centre for International Business and Management (CIBAM) at Cambridge Judge Business School in Cambridge invited some of the leading thinkers in "Green Business and Green Values" to share their thoughts on how to meet these new business challenges in the 21st century. The conference was sponsored by BERR (Department for Business Enterprise and Regulatory Reform), and organised by Dr Christos Pitelis, the Director of CIBAM. Innovation in India & China (Centre for India & Global Business Conference) CambridgeJBS The Centre for India & Global Business at Cambridge Judge Business School is creating a new dialogue for Western understanding of the emerging markets in India and China. On the one hand the rise of India and China as fast-growing global markets and world-class sources of innovation threatens the West but on the other the West needs a greater understanding of how it can succeed in these new giant Asian markets. Each needs the other but economic and cultural differences often hinder business development.At a special two-day conference entitled "Innovation in India and China", Navi Radjou, Executive Director of the Centre for India & Global Business, and Jaideep Prabhu, Nehru Professor of Indian Business, brought leading minds from the worlds of business, marketing, film, fashion and culture together to enable East and West to meet and find out how to create value from these emerging markets. Water, water everywhere; nor any drop to drink? (Centre for Energy Studies Conference) CambridgeJBS It's the resource that we take most for granted when we have access to it, yet it is also the resource that challenges the world most in terms of wide variations in whether we have too much or too little of it. Water is a basic necessity of life, or as some are now saying a basic human rights issue, yet world leaders are only just getting to grips with the true magnitude of the crisis now facing the globe in terms of climate change and its variability on water resources. Africa, with its 53 countries and 1 billion people is the world's second-largest and most populated continent, and it is here that the vastly different impacts of climate change are now being felt from floods to droughts and famine."The Global Water Initiative: Implications of Climate Change and Variability on African Water Resources", a three day conference co-ordinated by Cambridge Judge Business School's Cambridge Centre for Energy Studies and held at Downing College, University of Cambridge, brought together acad

Frequently Asked Questions

How long is this episode of CambridgeJBS?

This episode is 10 minutes long.

When was this CambridgeJBS episode published?

This episode was published on January 4, 2013.

What is this episode about?

When austerity policies are linked positively to structured measures and discipline at a macro-economic level, the strategy works. However, just rapid and deep austerity cuts do not. Dr Christos Pitelis warns that austerity measures on their own...

Can I download this CambridgeJBS episode?

Yes, you can download this episode by clicking the download button on the episode player, or subscribe to the podcast in your preferred podcast app for automatic downloads.