Economic policy has been heavily monetarist in the UK and the US since the late 1970s, but there has also been heavy doses of government spending in there too – Reagan, remember, didn’t worry too much about government deficits, and New Labour spent like an 8 year old in a toffee shop on pocket money day. But Keynes might have been pretty disgusted with New Labour – they spent during a boom, when I think Keynes would have said that we use the tool to get out of a recession. Anyway, my point is that economic policy has been complex (and seemingly not that well thought out) in both countries, although I personally think that the liberalisation of the banks and private industry was the biggest mistake, and our societies might pay for that for many decades to come, even if the direction is reversed, which is doubtful.
From: Anglo-American Health Policy Network [mailto:[log in to unmask]] On Behalf Of Calum Paton
Sent: 03 October 2012 11:34
To: [log in to unmask]
Subject: Re: LSE Talk
A joke........the nickname of the Bank of England is 'the old lady of Threadneedle Street'....I wanted to refer to that and change lady to woman (joke wouldn't have worked without that) but also disassociate myself from the sexism in the phrase....hence saying "at the risk of being sexist".....trying to say that I myself would not choose the phrase...but nopt saying very well!
My point was that King seems to me to agomise after the event....the event being 30 years of 'neo-liberalism' including in banking... and he now sees the dangers enough to agonise after the event!
I didn't make it clear enough that I do not equate equivocation with being 'an old woman' ...ie I am aware that the old phrase "he's an 'old woman" is highly sexist and unaccapetable.....but quick-fire e-mails late at night are maybe dangerous!
As ever
Calum
On 3 October 2012 11:06, Popay, Jennie <[log in to unmask]> wrote:
You are certainly at risk of being sexist Calum - perhaps you could elaborate a little on why you think King is the 'old woman' of anywhere?
-----Original Message-----
From: Anglo-American Health Policy Network [mailto:[log in to unmask]] On Behalf Of Calum Paton
Sent: 03 October 2012 00:02
To: [log in to unmask]
Subject: Re: LSE Talk
Absolutely.
Have a look at Robert and Edward Skidelsky's recent book , How Muvh is Enough? to be reminded what a renaissance man Keyes was....
also Thatcher's former Policy Unit chief, Ferdinand Mount, Mind the Gap. The New Class Divide......not riveting reading, but interesting because of the author (if he thinks this, then.....!)
Ok, these range wider than monetary policy. But they show us what the 'monetarist society' has become.
At the risk of being sexist, Mervyn King seems to me to be the 'Old Woman' of Threadneedle Street! ( ....the Bank's nickname
was....geddit.....?)
On 02/10/2012, Oliver,AJ <[log in to unmask]> wrote:
> This blurb from the Director of the Bank of England is quite
> interesting. He asks if we need an alternative to monetary policy.
> Well, there is always Keynesianism...
>
> http://www2.lse.ac.uk/publicEvents/events/2012/10/20121009t1830vLSE.as
> px
>
>
>
>
> Please access the attached hyperlink for an important electronic
> communications disclaimer: http://lse.ac.uk/emailDisclaimer
>