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Subject to availability, serving time supply. Hello, my name's David Rundsenman and this is past-present future, the History of Ideas podcast. Today, we're beginning a new series of episodes about the history of bad ideas.

We haven't done bad ideas for a while, but we have got plenty of new ones coming up.

And we're starting with austerity.

And with the economist Mark Blythe, who's written widely about why austerity is a bad idea.

It's a word that you hear a lot in contemporary politics.

We're going to be talking about why it is that politicians so often think when the going

gets tough, their job is to make it tougher.

This is a conversation mainly about politics but also about economics.

So there is going to be some talk in what follows about bond markets and capital flows.

If that's not your thing, do stick with us because, as you will hear, we get to the heart of contemporary political arguments. We will be

talking about Doge and what's going on in the United States. We're going to be talking about

...