In the provided podcast episodes, the topic of austerity is discussed in the context of its impact on British politics, economic systems, and societal values.

The first episode 'The 14 years that broke Britain, part 1' examines the harsh austerity policies implemented by Conservative governments in the UK, including severe funding cuts to public services, welfare reforms, and reductions in government spending.

The second episode 'Starbucks Communism: Consumerism & Austerity in Communism and Capitalism' delves into the historical relationship between austerity and communist systems, as well as the modern emergence of a unique combination of communism and consumerism, which the hosts refer to as 'Starbucks communism'.

The third episode 'British Election Showdown and the Fate of the Trans-Atlantic Left w/ James Meadway' discusses the implications of the British elections, with a focus on the potential for a Labour government to end austerity policies and address the suffering they have caused.

The fourth episode 'Neoliberalism: What is it? Where did it come from? w/ Ray Kiely [UNLOCKED]' covers the history and political economy of neoliberalism, including the austerity policies implemented in the US and UK under Reagan and Thatcher.