Sebastián Royo, vice provost for student success and professor of government, has published two pieces in Spanish media:
- “La casa de deuda,” or “The House of Debt” in Cinco Dias
- “La socialdemocracia desde EEUU,” or “Social democracy from the U.S.” in El Huffington Post
In the Cinco Dias piece, Royo offers an analysis of the book House of Debt, by Atif Mian and Amir Sufi.
The authors make the compelling argument that the crisis of 2007 was not just caused by a banking crisis, but rather by a large run-up in household debt followed by a large decline in household spending in the years that preceded the 2007 crisis, according to Royo. This drop led to the banking crisis.
Royo applies their analysis to Europe and Spain and supports their argument that the response to the crisis was not adequate because it focused on bailing out the banks rather than supporting households.
The Huffington Post blog discusses the challenges to social democracy in Europe and Spain. Social Democratic parties throughout the continent have been battered by the economic crisis, and Royo examines the reasons and outlines some of the challenges these parties must address to remain politically relevant.
The topics are connected to Royo’s research. His first book, From Social Democracy to Neoliberalism, examining the challenges to social democracy in Spain, was published 15 years ago, and his most recent is Lessons from the Economic Crisis in Spain.