In this episode, Professor Thiemo Fetzer dissects how austerity policies since 2008 have reshaped society, fueled distrust in public institutions and sparked political upheaval (ultimately resulting in its influence over the EU referendum). He reveals surprising insights regarding how structural transformations, immigration incentives, and age demographics influence national identity and support for populist movements.

Professor Thiemo Fetzer https://www.trfetzer.com/

Did austerity cause Brexit? https://www.aeaweb.org/articles?id=10.1257/aer.20181164

Timestamps

00:00: Intro

00:39: Did Austerity Cause BREXIT?

19:09: Effects of the 2008 Financial Crisis

29:25: Implementation of Austerity (UK)

35:33: Thiemo’s Research Paper

44:35: How Benefits Recipients Affect the Economy

48:37: How the High Street Changed/Regional Identities

53:35: Regional Wealth Inequality in the United Kingdom 56:14: What Were the Alternatives to Austerity?

01:08:17: Effects of Ageing Demographics & Generous Pensions