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The manufactured crisis of COVID-Keynesianism in Britain, Germany and the USA

Author

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  • James D G Wood
  • Valentina Ausserladscheider
  • Matthew Sparkes

Abstract

Economic policymaking shifted away from neoliberal ideals towards ‘crisis’ Keynesianism during the COVID-19 pandemic. We use a comparative process tracing approach to examine how political and economic actors in Britain, Germany and the USA attempt to legitimise a potential return to neoliberalism to voters. We show that pro-neoliberal actors discursively construct a ‘crisis’ of COVID-Keynesianism by associating it with rising inflation and ‘unsustainable’ levels of government spending. Whilst emphasising key neoliberal policies of maintaining low inflation and fiscal conservativism to establish a return to ‘normal’ neoliberal policymaking. Therefore, we explain how the neoliberal policy paradigm reasserts itself when challenged.

Suggested Citation

  • James D G Wood & Valentina Ausserladscheider & Matthew Sparkes, 2023. "The manufactured crisis of COVID-Keynesianism in Britain, Germany and the USA," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 16(1), pages 19-29.
    • Handle: RePEc:oup:cjrecs:v:16:y:2023:i:1:p:19-29.
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    File URL: http://hdl.handle.net/10.1093/cjres/rsac030
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