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Monday, 16 November 2020

Debt and Austerity: Implications of the Financial CrisisEdward Elgar Publishing has published Debt and Austerity: Implications of the Financial Crisis edited by Jodi Gardner, Mia Gray and Katharina Moser.

This book explores the complex interactions between debt and austerity, analysing the social, economic, and legal implications of governments’ responses to the 2008 financial crisis.

Demonstrating how the nature of debt for those on low incomes has changed radically over the last decade, the chapters provide insight into how structural inequality was exacerbated by changes in the redistributive state, the legal system, and the welfare system. The examination occurs on a number of levels and these issues are explored through the lens of power, place, and class. The authors utilize both international case studies and 'on the ground' experiences, reviewing the role of high cost credit, bailiffs, local governments, bankruptcy, and debt advice. Through the analysis of the nature and structure of debt in specific countries, it highlights important lessons for a global audience.

This unique book offers a broad, multi-faceted insight into the issue of low-income debt which will greatly benefit academics in law, social policy, geography, and economics. Its focus on practical steps and potential reforms, as well as contributions from third sector organizations, will also interest practitioners, policymakers, and NGOs.

"As low and moderate-income households become ever more dependent on debt to survive this historic COVID-19 pandemic, this book identifies the real culprits who have made these debt burdens grow faster than they should have. The authors show how austerity is leading to the opposite of its intended outcome as privatized troubles become public burdens. Laying the groundwork for targeted debt forgiveness, these accomplished scholars offer a pathway out of the crisis into a more prosperous and just future." – Frederick F. Wherry, Princeton University, US and Founding Director, The Dignity and Debt Network

For more information about this set, please refer to the Edward Elgar website. For information about other publications by Dr Gardner, see her Faculty profile.