A timely and incisive look at austerity measures that succeed-and those that don'tFiscal austerity is hugely controversial. Opponents argue that it can trigger downward growth spirals and become self-defeating. Supporters argue that budget deficits have to be tackled aggressively at all times and at all costs. In this masterful book, three of t "Every chapter in this book is thorough, informative, and persuasive. . . . Without doubt, this is an important book."---Geoffrey Wood, Central Banking Journal