How austerity broke Britain – and how we can recover

After ten years of wrongheaded and brutal spending cuts, Keynes’s warning that bad economics produces political extremism is more important than ever.

Labour has always been set a higher standard on the economy than the Conservatives: it had to be more orthodox, more competent, more successful to win equal praise or escape equal blame. The reason is not hard to find: created and financed by the trade unions, and committed to the abolition of capitalism, the Labour Party faced obvious difficulties in guaranteeing what John Maynard Keynes called a “political and social atmosphere congenial to the average business man”. Not that it...
source: New Statesman

2018-10-10 20:32
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