Osborne’s targeted austerity measures, based entirely on Conservative small state ideology, rather than economic necessity, have established an economic trap. It’s a vicious cycle, because tax cuts to the wealthy, and low, stagnated wages reduce Treasury income, thus increasing the deficit – which is the gap between Treasury income and what is needed for spending. 684 more words
Tags » John Maynard Keynes
Such was Quentin Bell’s recollection of Maynard Keynes’ bonfire celebration on the 5th of November the year before the Second World War.
Today, as the sounds of Lewes bonfire spread across the fields to Charleston, images of fireworks, startling bursts of falling light, emerge from the Angelica Garnett Gift. 60 more words
He’s been called “a ‘superstar’ of the Left” who “defaults to leftist ideologies at every turn,” who “offers an old-Keynesian approach to new problems,” who “has assumed the role of social-democratic public-intellectual-in-chief,” who “increasingly labels anyone disagreeing with him as a ‘market fundamentalist’ or a ‘conservative journalist,’” and who’s “ 618 more words