#Pdf ⛅ The Body Economic Ð eBook or E-pub free

Digesting a Book Perhaps you d rather read it on my blog kyltra.tumblr.com The price of austerity is calculated in human lives And these lost lives won t return when the stock market bounces back This is good, this is necessary, this is important Plainly written and concise, David Stuckler and Sanjay Basu get to point With than sufficient data they tear down once the austerity delusion and direct attention towards our collective health and wellbeing, surely the most important things in our lives.Stuckler and Basu argue that care for the people should be the primary concern of the state in economic crisis, rather than a fetish for reducing the deficit and increasing GDP, which in the words of Bobby Kennedy measures everything except that which makes life worthwhile They reveal that investing in welfare is good for economies and helps them to emerge much stronger from financial crises than through austerity programs, and without the needless tolls of misery, memories of which linger for decades While Iceland faced the greatest banking crisis in history and, rejecting a dose of IMF sponsored austerity, upheld their social welfare and improved Greece became Europe s guinea pig for austerity Though the Greek economy was initially as bad as Iceland s, the dramatic cuts meant that the nation and its people suffered, and continue to suffer, significantly This pattern is attested in the century of data the authors spent ten years pouring through, presenting to governments, and writing about In the 1997 Asian Financial Crisis, Malaysia succeeded where others failed South Korea, Thailand and Indonesia had struggled alongside Malaysia, but after they accepted IMF bailouts in exchange for massive austerity on health and social services they suffered a significant increase in poverty, infectious disease and death Thailand suffered 50,000 avoidable deaths, its progress towards eradicating HIV was erased suicide rates increased 60% in Thailand and increased 45% in South Korea, which also saw poverty rise amongst the population from 11% to 23% The IMF cut food subsidies in 1998 and advised privatisation, which encouraged currency speculation and resulted in further harm to the people Malaysia, meanwhile, had also suffered the GDP hit and recession which had put its people at risk of poverty, but poverty there only increased from 7 to 8% Malaysia was the first to see economic recovery and soon met the IMF s economic targets And yet they hadn t even participated They had refused IMF assistance, invested 7 billion into social welfare and limited foreign speculation It must be hard for the present political right to challenge the view that while recession put South Korea, Thailand and Indonesia at risk of poverty, the austerity response turned it into a disaster.And yet the IMF had experimented like this before, in post Soviet Russia To ensure a swift transition to a capitalist market economy in the early 1990s, international powers urged shock therapy chiefly a political strategy to prevent the return of Communism by massively liberalising releasing the prices of goods to the market and privatising Russia s economy Harvard economists planned to privatised over 200,000 Soviet enterprises in 500 days for comparison Thatcher privatised 20 large British utilities companies The same vices that would befall Asia and Europe were felt in Russia, and hard Per capita income fell by over 30%, Russia s purchasing power fell to the USA s 1897 level, wealth was transferred through privatisation to Communist Party elites, there was a massive rise in inequality, poverty, job loss and corruption 10 million Russian men died as a result and life expectancy remains lower than pre 1991 By contrast, health increased in Poland where Shock Therapy wasn t enforced, and China also went gradual and has had massive economic growth and longer life expectancies Russia was thus crippled by austerity and plunged into another Time of Troubles As a result we have a nation led by a man emulating the great unifiers of Russia s past since its inception as Rus, seeking to forge a new identity based on nationalist and anti Western themes, striking aggressively from Georgia to Ukraine to recover what was lost.Recurring across those states which imposed austerity, minorities were scapegoated to divert anger from the government The fiscal ideology of the UK Conservative Party prompted radical cuts in public health, and its leader David Cameron explained to the British people that a huge expense was being wasted in disability benefits and pension fraud, especially amongst immigrants Inconveniently, the Department of Work said only 1% of pensions were fraudulent So the government spent 400m hiring a firm to meet its pension cutting targets Those who had their pensions cut tended to actually need them and had spent their lives paying into them, so as predicted, deaths rose Elsewhere, the Greek government denied its health crises in the wake of massive austerity measures and blamed rocketing HIV on prostitutes, and continued to cut In reality, they had created an epicentre for disease by cutting welfare often explained as directed towards the same sort of supposed fraudsters that David Cameron rallies against It s worth mentioning that despite the cuts, Greece s economy was still not improving by its third austerity program.As Stuckler and Basu enlighten us, the deterioration of public health in the wake of recession is not inevitable We ve seen in Iceland, Malaysia, 1930s New Deal states, that health improved in the wake of recession with investment into welfare Recession combined with austerity, however, produces the perfect storm for misery seen across the world for the last century, from Depression era American south to 1990s Indonesia, post Soviet Russia, and Great Recession Europe Health can improve with stimulus The real danger isn t recession, but austerity which fails to stimulate the economy while cutting welfare spending, which is rather like repeatedly hitting yourself in the face for a few minutes as Paul Krugman argued in this piece.With austerity in Greece came resonances of Depression era politics, as in pre WW2 Europe, which threatened a rise in fascism, racism and misery In the UK, too, we ve seen the rise of UKIP, a party with spectacularly appalling representatives which had enjoyed varied support until the right wing press diligently rallied behind the Conservatives when Rupert Murdoch yanked the leash Given Germany s experience with post WW1 austerity which contributed to the rise of Nazism and post WW2 American stimulus, its involvement in the Greek financial crisis is bewildering Well, until you realise that the IMF and the European Central Bank were funnelling money back to the German, and American, French and British, creditors who built Greece s bubble in the first place Thus Greece s bailout was using public funds not to help Greece but to rescue the poorly invested private money of the world s banking elite Through the course of The Body Economic, Stuckler and Basu stab at austerity as a political ideology spawned in the belief that small government is good for business, and therefore good for the state How else to explain the persistence of austerity as a treatment to recession So it is revealing that even as the USA, even as the IMF, have retreated from advocating austerity, the Tories continue to cripple public services Do they really believe that the way out of crisis is to run a budget surplus to inspire confidence in investors a strategy based on repeated assertion rather than evidence I regret not only that the British Conservative Party is committed to the path of austerity, but that Labour only limply resists Though it ought to have been as Paul Krugman argued in his Guardian piece The case for cuts is a lie Why does Britain believe it austerity wasn t even a major issue in the 2015 election Looking at England s election results you d be forgiven if you thought that nobody listened to Stuckler and Basu and the vast literature which decries austerity But look to Scotland and the SNP who postured with a populist, anti austerity message dominate 60,000 people are expected to attend the End Austerity Now demonstration in London on 20 June They are outraged by the hypocrisy of it all, the lack of compassion David Cameron likes to remind us that we are a civilised nation But what civilised nation, asked the founder of the NHS, fails to put the welfare of the sick in front of every other consideration We are participating in a clinical trial we never signed up for We should find inspiration in the history of economic crises to remind ourselves that the world has seen these disasters before, and despite having been repeated time and again, austerity only ever proved itself worthy of repetition by the ignorant.The human costs of austerity were clear when this book was written They re clear now, as the Conservatives prepare to cut even And they ve been clear for a long time Before losing out to FDR and his promised New Deal, President Hoover had advised the depressed American people to pull themselves up by their bootstraps and to spontaneously become driven, self sufficient and pleased with their lot People today have been told the same things Big Society in the UK was an attempt by the Conservatives to encourage community compassion and initiative to make up for the government s deficiency unmasked as yet another mechanism to reduce the role of the state through spending cuts This advice is not just out of touch to those hit hardest by recession, but merciless and cruel As Dimitris Christoulas declared on the Greek Parliament steps, before he put a gun to his head and pulled the trigger I am not committing suicide They are killing me. How Neoliberalism killsImagine Tom, a man who works from 9 to 5 in an office for a private company dealing with highly explosive equipment He s done a really good job today managing to deliver over 240 dangerous chemicals to hospitals and clinics all over the country However, he arrives back home to find out through the news that a roaring chaos is emerging within the confines of the financial market What the heck The prices of insurances are falling, the housing market is plummeting and the entire economy is soaring The news bulletin stops to broadcast a live speech by the president It is hard times, dear Americans, Wall Street is undergoing profound changes and the financial crisis is imminent, however we do hope to have recovered soon by the end of this week or something along those lines It is 2007, and Tom is waiting, thinking about what this could mean for him He s worried He has two children and a partner with whom he shares their first house paid for by the mortgage they obtained from the bankfollow my review and summary at #Pdf Å The Body Economic ⛎ Politicians Have Talked Endlessly About The Seismic Economic And Social Impacts Of The Recent Financial Crisis, But Many Continue To Ignore Its Disastrous Effects On Human Health And Have Even Exacerbated Them, By Adopting Harsh Austerity Measures And Cutting Key Social Programs At A Time When Constituents Need Them Most The Result, As Pioneering Public Health Experts David Stuckler And Sanjay Basu Reveal In This Provocative Book, Is That Many Countries Have Turned Their Recessions Into Veritable Epidemics, Ruining Or Extinguishing Thousands Of Lives In A Misguided Attempt To Balance Budgets And Shore Up Financial Markets Yet Sound Alternative Policies Could Instead Help Improve Economies And Protect Public Health At The Same TimeIn The Body Economic, Stuckler And Basu Mine Data From Around The Globe And Throughout History To Show How Government Policy Becomes A Matter Of Life And Death During Financial Crises In A Series Of Historical Case Studies Stretching From S America, To Russia And Indonesia In The S, To Present Day Greece, Britain, Spain, And The US Stuckler And Basu Reveal That Governmental Mismanagement Of Financial Strife Has Resulted In A Grim Array Of Human Tragedies, From Suicides To HIV Infections Yet People Can And Do Stay Healthy, And Even Get Healthier, During Downturns During The Great Depression, US Deaths Actually Plummeted, And Today Iceland, Norway, And Japan Are Happier And Healthier Than Ever, Proof That Public Wellbeing Need Not Be Sacrificed For Fiscal HealthFull Of Shocking And Counterintuitive Revelations And Bold Policy Recommendations, The Body Economic Offers An Alternative To Austerity One That Will Prevent Widespread Suffering, Both Now And In The Future Whaaaaaaaaaaat Funding provided by the government for public programs reduces unemployment, homelessness, healthcare costs and actually improves the economy at faster rates than radical cuts to government services Which in turn promotes growth by increasing citizens marginal propensity to consume, which in turn helps them become active members in the economy You don t say A truly harrowing book on the devastating impact austerity has on the citizens The people least responsibility for reckless practices by the banking elite get hurt the most The book is a data oriented approach showcasing the different policy routes countries went during financial meltdowns How it affects healthcare, housing, employment, anxiety, suicide rates and many factors My one critique is that the author did not criticize Obama care because it was better than the current system but it s obvious Obama care was a policy failure It gave Republicans the ammo needed in the mid terms of 2010 and 2014 and lead to a massacre in 2016 Don t get me wrong Obama care was an improvement but a moderate improvement at the very least by leaving the for profit system in place it still lead to large increases in costs, nevertheless it was still and still is better than any republican plan but that doesn t make it good.Incrementalism leads to republican surges, hopefully in 2020 we get a candidate that actually stands up to the for profit corrupt practices of the insurance industry, who have price gouged the American people. I hoped this would be a tremendous book And it is What we can learn from the Global Financial Crisis is that how business has been conducted in the past has failed The continual emphasis of the economic over the social or growth over justice has failed It is time to think differently It is time to be different.David Stuckler and Sanjay Basu show that one of the primary costs of governmental austerity is preventative health policies By hyper fetishizing the present budget, the future is mortgaged The authors show that the men and women who lost their houses and jobs also lost their health The cost of that loss is paid in suicides, strokes, heart attacks and disability This book argues for a full economic and social costing of austerity When this real budget is configured, Iceland becomes a model for a new way of thinking and living. Always useful to have contributions from various fields in this case, public health researchers describing the social consequences of austerity cutting public services in order to recover from financial crises related read humanitarian physician Paul Farmer s Pathologies of Power Placing austerity in the context of Financial policy and crises caused by predatory lending of Financial Capitalism crippling Labor and Industry reveals the Financial sector actively seeking austerity for their own gains Debt is their business The feudalism of usury and land monopoly rent is the unearned income that even Classical economists wanted to free the market from Michael Hudson Killing the Host , J is for Junk Economics details how Financial Capitalism derailed reforms and has both Labor and Industry in debt peonage David Graeber Debt the First 5000 Years , The Democracy Project challenges the one sided morality of debt and revives social imagination on what an economy is actually for and how we can organize our decision making. Living in Malaysia and seeing the extent of the effects of the reform on social services shed some light to governance in Malaysia Although some of the actions conducted by the Malaysian government at that time was highly provocative, it s decision of a solid no to IMF was indeed a wise decision The book solidifies what successful government do to help spur the economy It provides the facts and evidence to us However, it is important that books like this be read as in modern democracy, where the people choose the leaders Anyway, it was crafted very nice I had the page turning until the end of each experiment And the data was properly broken down and analysed that I have very little qualm in taking it All in all, a must read. Short and still quite a bit repetitive, but represents a well presented data driven argument.Even hardened economists should heed at least this part of message If we wish to do to activate workers and boost the economy, we have to enact the right kind of stimulus Health, education, and social protection programs have among the highest fiscal multipliers In the case of the health sector, public investment boosts the economy by than three dollars for every dollar spent Meanwhile, the fiscal multiplier for bank bailouts and defense spending is often negative. Solid book read in a few hours The basic principle of the book is to show how government spending on certain types of social safety net programs can keep people healthy AND benefit the economy This runs counter to some popular and political thinking on the topic, so the authors collect and report data and evidence to make their case I appreciated how they wrote in a view that would reach a popular audience but relied on their findings culled from some peer reviewed pubs This makes some of the complicated sections easier to readAnd understand, but there are still a decent amount of stats.Ultimately I think this book would give anyone a basic understanding of the macro level links between public policy, health, and the economy I appreciated all of the references at the end but would have also enjoyed the actual data tables as an appendix. Very concise research by the two Authors confirms what most empathetic people would think of Government Austerity programs They hurt the most vulnerable and have a major impact on their physical and mental health.