Abstract
Abstract Chapter 2 situates the book in the context of the existing literature and outlines the analytical framework. The chapter begins by reviewing the policies that the centre-left pursued before the Great Recession. Afterwards, it summarises existing explanations for social democratic austerity and argues that they are not sufficient to explain it. The chapter then provides a new theoretical framework to explain partisan choices for macroeconomic policies. It argues that politicians are constantly in search of electoral majorities and need to respond to public opinion. Yet, parties in Europe are not just conveyor belts for electoral interests; they are also rooted in distinct ideological traditions. Parties balance electoral demands with their economic ideas and political objectives. The theoretical framework, therefore, highlights the importance of both the electoral and ideational foundations of macroeconomic policies and focuses on the interaction of public opinion, economic ideas, and the dominant political discourse.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
