The Contradictions of Austerity. The Socio-Economic Costs of the Neoliberal Baltic Model

This book explains why and what are the real social and economic costs of the Baltic austerity model. Each of the Baltic States is examined by connecting national level studies within a European and global political economy, thereby delivering comparative breadth that supersedes localized understandings of the crisis. Thus for each of the three Baltic states, individual chapters explore the different economic and social dimensions of neo-liberal post-communism and the subsequent wider global economic and financial crisis in which these newly financialized economies have found themselves especially vulnerable. The 'austerity model' adopted by Baltic national governments in response to the crisis reveals the profound vulnerabilities created by their unwavering commitment to liberalized economies, not least in terms of the significant 'exit' of their labor forces and consequent population loss.

Contents:
+ Introduction
+ 1. Austerity, Internal Devaluation and Social (In)Security in Latvia
+ 2. Stockholm Syndrome in the Baltics
+ 3. Failed and Asymmetrical Integration
+ 4. The Lithuanian Labor Market under the Impact of Crisis
+ 5. Balancing between Exit, Voice and Loyalty: Labor Market Policy Choices in Estonia
+ Conclusion