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Alternatives to NeoliberalismTowards Equality and Democracy$
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Bryn Jones and Mike O'Donnell

Print publication date: 2017

Print ISBN-13: 9781447331148

Published to Policy Press Scholarship Online: September 2017

DOI: 10.1332/policypress/9781447331148.001.0001

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The limits of neoliberalism? Austerity versus social policy in comparative perspective

The limits of neoliberalism? Austerity versus social policy in comparative perspective

Chapter:
(p.101) Five The limits of neoliberalism? Austerity versus social policy in comparative perspective
Source:
Alternatives to Neoliberalism
Author(s):

Kevin Farnsworth

Zoë Irving

Publisher:
Policy Press
DOI:10.1332/policypress/9781447331148.003.0006

In their chapter Kevin Farnsworth and Zoë Irving place the UK in comparative context. They examine the workings of the austerity frameworks with which neoliberal states and inter-governmental agencies, such as the IMF, have sought to maintain neo-liberal economics by undermining the remaining elements of social democratic welfare state regimes. Their analysis reveals considerable variation amongst these welfare states and also division and ambivalence amongst the governance bodies overseeing austerity. By identifying countries like Iceland, which have successfully resisted and even partially reversed austerity programmes, Farnsworth and Irving suggest that austerity may not constitute a further entrenchment of neo-liberalism but perhaps the cusp of a shift away from its key principles.

Keywords:   Austerity, Iceland, IMF, inter governmental agencies, neoliberal states, welfare state

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