The Austrian parties and the economic crisis

Abstract
This article examines Austrian economic development since the 1970s and the policies of ‘Austro‐Keynesianism’ applied by the ruling Socialist Party. These policies have been successful in meeting adverse economic conditions. Tensions and problems are evident in the application of the Party's new economic programme, but the alternatives of the opposition do not amount to a neo‐conservative challenge. It appears that Keynesianism still works in Austria as a defensive strategy and that the related ‘social democratic consensus’ still survives.

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