Austerity Is a Deeply Antidemocratic Project
Austerity is not bad economics. It is a century-old project to undermine democracy in crucial areas of our lives.
Clara E. Mattei is professor of economics and director of the Center for Heterodox Economics at the University of Tulsa, Oklahoma. She is author of The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism.
Austerity is not bad economics. It is a century-old project to undermine democracy in crucial areas of our lives.
Today marks 100 years since Benito Mussolini became Italy’s prime minister. His first governments pursued austerity and suppressed the labor movement — earning him the praise of liberal economists both in Italy and abroad.