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17 ore fa · Bankers and economic policy wonks were quick to embrace Friedman’s monetarist gospel. In a 1984 speech, then-chancellor of the exchequer Nigel Lawson turned the previous Keynesian orthodoxy on its head. The objective of macroeconomic policy, he asserted, should be “the conquest of inflation”, not “the pursuit of growth and employment”.
2 giorni fa · The NHS became ‘the closest thing the English people have to a religion’ in Nigel Lawson’s words, because it proved our goodness. They weren’t necessarily wrong.
2 giorni fa · In 1988, Chancellor of the Exchequer Nigel Lawson reacted to a market fall with a reflationary budget, stoking inflation and precipitating a slide in the Government's fortunes. By the time of Thatcher's resignation in 1990, inflation had again hit 10%, the same level she had found it in 1979.
3 giorni fa · There’s little doubt that English nationalism is on the rise, as witness the number of folk on social media who are utterly convinced that the subsidy junkies all live north of Carlisle. Subsidy junkies and whingeing Jocks – that’s us folks.
2 giorni fa · After just three months as Foreign Secretary Major was appointed Chancellor of the Exchequer on 26 October 1989 following the sudden resignation of Nigel Lawson, who had fallen out with Thatcher over what he saw as her excessive reliance on the advice of her Economic Adviser Alan Walters.
4 giorni fa · Just ponder on the towering figures of Nigel Lawson, Kenneth Clarke, Douglas Hurd, Peter Brooke, Norman Tebbit or Portillo, Lamont, Howard and Currie. Not to mention some extraordinary...
5 giorni fa · Nigel Lawson and the Treasury got egg on their face, because the monetarist agenda, laid out in the Medium Financial Term Strategy in 1980, had not worked out as planned. High real interest rates ...
