High Support for Austerity in Principle, Low Support in Practice The Impact of Austerity Measures on Preferences for Austerity Policies

We investigate the relationship between the public debt ratio, austerity measures, and ideology and support for austerity policies in European Union (EU) member states from 2010 to 2019. We build and expand upon earlier research. We find a negative effect of austerity on support for austerity. Using a larger data set, we confirm prior findings that rising debt levels are associated with greater public support for austerity. So, we find a thermostatic dynamic: while support initially increases with debt, it declines once citizens experience the tangible effects of austerity. We also show that ideology moderates this relationship, with left-wing individuals’ support more responsive to economic conditions than that of their right-wing counterparts.