Events

The Politics of Austerity Versus Possibility

Please join us on May 16, 2013, as Robert Kuttner presents his new book, Debtors’ Prison: The Politics of Austerity Versus Possibility at the Economic Policy Institute.

Robert Kuttner, cofounder and coeditor of The American Prospect and Distinguished Senior Fellow at Demos, shows that today’s continuing economic crisis is not inevitable; it lingers on simply because dysfunctional politics are blocking the road to recovery.  He argues that the same financial interests that laid the ground for the current crisis continue to exercise outsized influence in policy debates, undermining sensible policies that could enable a broadly shared recovery and preventing needed reforms of the financial system to break the cycle of bubbles, collapses and associated depression.

Mr. Kuttner chronicles history from both the United States and Europe to argue that private debts are the real shackle to today’s growth, and the burden of these debts demands a response of relief and reform, not just austerity. Public debt, conversely, provides the possibility for recovery and growth, and should be expanded to finance public investments for near-term recovery and long-term growth. In the end, Kuttner shows that when creditors’ interests dominate economies founder, but when capitalism is harnessed to grow the productive potential of all citizens, and not just holders of financial wealth, economies thrive.

Immediately following, Teresa Ghilarducci, Bernard L. and Irene Schwartz Chair in Economic Policy Analysis and Director of the Schwartz Center for Economic Policy Analysis at The New School for Social Research and Damon Silvers, Director of Policy and Special Counsel for the AFL-CIO, will join Mr. Kuttner for an engaging panel discussion.

Copies of the book will be available for purchase.
Thursday, May 16, 2013
2:00 – 3:30 p.m.

Economic Policy Institute
1333 H St. NW
Suite 300
Washington, DC 20005

Convenient to Metro Center and McPherson Square metro stations

The event is free. Please REGISTER HERE.