That G20 meeting marked the moment when the rediscovery of Keynesian economics that had informed state responses to the global financial crisis since 2009 gave way to an economically more orthodox, and austere, reading of events. The G20 communiqué called for an end to re-flationary spending under the guise of something called “growth friendly fiscal consolidation,” which is a fancy way of saying “austerity.”

Mark Blyth, Austerity, loc. 13