The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism

A Financial Times Best Book of the Year

"A must-read, with key lessons for the future."—Thomas Piketty

A groundbreaking examination of austerity’s dark intellectual origins.

For more than a century, governments facing financial crisis have resorted to the economic policies of austerity—cuts to wages, fiscal spending, and public benefits—as a path to solvency. While these policies have been successful in appeasing creditors, they’ve had devastating effects on social and economic welfare in ...