Keynesian

[poliphilo]

 We had lunch at The Long Man. The waitress is almost always the same waitress and she recognises us- which is nice. It had been a while, "Christmas and poorliness" I explained.

The pews (donated by or purchased from Berwick Church) have plaques attached honouring members of the Bloomsbury Group- who used to gather just up the road at Charleston Farmhouse. We sat in the corner which remembers John Maynard Keynes. Do you understand Keynesian economics? No, me neither. Wasn't Mrs Thatcher a fan? I think so. Or maybe she wasn't. I dunno.  It's all such a  long time ago....

Comments

[cmcmck]

Yes she was although she didn't understand it either!

[paserbyp]

His influence began to wane in the 1970s, partly as a result of the stagflation that plagued the British and American economies during that decade, and partly because of criticism of Keynesian policies by Milton Friedman and other monetarists, who disputed the ability of government to favourably regulate the business cycle with fiscal policy. The 2008 financial crisis sparked the 2008–2009 Keynesian resurgence. Keynesian economics provided the theoretical underpinning for economic policies undertaken in response to the 2008 financial crisis by President Barack Obama of the United States, Prime Minister Gordon Brown of the United Kingdom, and other heads of governments.

[mallorys_camera]

Margaret Thatcher was most definitely not a fan of Keynesian economics. 😀 Keynes believed that government spending should be used to manage unemployment and stimulate growth.

[poliphilo]

No, those don't sound like Thatcherite values.