Home Bookend - Where reading meets review The Body Economic: Eight experiments in economic recovery, from Iceland to Greece by David Stuckler, Sanjay Basu

The Body Economic: Eight experiments in economic recovery, from Iceland to Greece by David Stuckler, Sanjay Basu

by Venky

BodyA lucid, methodical and meticulous riposte to the diabolical prophets of austerity. David Stikler and Sanjay Basu, in this essential read, bring out in stark detail the pre-conceived and jaundiced notions underlying the concept of austerity.

The stimulus v austerity debate has raged on unhinged and unhindered for a long time. The proponents of each measure have been sharpening their swords and reloading their bullets ever since the Great Recession racked the word and ransacked lives. The austerity mavens have to an extent succeeded in arm twisting many economies (with the help of willing comrades such as the International Monetary Fund)in agreeing to an austerity ‘package’. What has been the impact of the implementation of such a package?

In “The Body Economic” two dedicated authors, one an epidemiologist and the other a Senior Research Leader combine to demonstrate the effects of eight beautifully constructed and observed ‘experiments’ in economic recovery. Their sample set is a varied basket of participants ranging from Iceland (which emphatically refused to toe the austerity line) to Greece (which was bullied, coerced and forced into embracing the austerity Mantra).

In a remarkable demonstration of hard facts and unsurmountable data evidence, the authors conclusively prove the futulity of instituting an austerity measure. Not only does the austerity weapon fail miserably in its objectives, it also ends up weraking social and cultural havoc by uprooting livelihoods, communal cohesion and societal integration. As social security nets are cut, health budgets slashed,and home building upended, millions of people are left on the lurch without recourse to employment, shelter and medical care.

The David Camerons and Jeffrey Sachs of the world need to lay their hands on this seminal book ASAP before their myopic and draconian thinking puts paid to many an aspiring hope and inspiring dream.


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