On these terms the reforms promoted by the economics profession and implemented by Thatcher have failed the people of Britain – catastrophically.Prime
Thatcher’s economic legacy
Ann Pettifor and Douglas Coe
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So, in the financial arena, as elsewhere, there is light and shade in the Thatcher inheritance. Her Alan Greenspan-like belief in the self-correcting features of financial markets, and her reverence for the integrity of the price mechanism, do not look as well-founded today as they did in the 1980’s. So, in that sense, she can be seen as an enabler of the market hubris that prevailed until 2007.On the other hand, it is difficult to imagine that a Thatcher government would have run a loose fiscal policy in the 2000’s. And it is equally unlikely that, had she had her way, the eurozone would be the camel – a horse designed by committee – that it is today.Project Syndicate
Thatcher and the Big Bang
Howard Davies | Professor at Sciences Po in Paris, the first chairman of the United Kingdom’s Financial Services Authority (1997-2003), Director of the London School of Economics (2003-11), and served as Deputy Governor of the Bank of England and Director-General of the Confederation of British Industry
1 comment:
The almost unanimously celebrated 1992-2007 boom was an illusion made possible only by a debt inflation of a more severe kind than that of the 1930s.
So, Thatcher was a funny money inflationist. Who knew?
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