Inbunden, Engelska, 2014

Expansionary Fiscal Contraction

The Thatcher Government's 1981 Budget in Perspective

Av Duncan Needham, Anthony Hotson

2029 kr

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Beskrivning

In its 1981 Budget, the Thatcher government discarded Keynesian counter-cyclical policies and cut Britain's public sector deficit in the depths of the worst UK recession since the 1930s. Controversially, the government argued that fiscal contraction would produce economic growth. In this specially commissioned volume, contributors examine recently released archives alongside firsthand accounts from key players within No. 10 Downing Street, HM Treasury and the Bank of England, to provide the first comprehensive treatment of this critical event in British economic history. They assess the empirical and theoretical basis for expansionary fiscal contraction, drawing clear parallels with contemporary debates on austerity in Europe, USA and Japan in the wake of the recent global financial crisis. This timely and thoughtful book will have broad appeal among economists, political scientists, historians and policy makers.

Produktinformation

Utgivningsdatum: 2014-09-15
Mått: 155 x 234 x 17 mm
Vikt: 500 g
Format: Inbunden
Språk: Engelska
Antal sidor: 251
Förlag: Cambridge University Press
ISBN: 9781107042933

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Makroekonomi

Mer information

Duncan Needham is a Research Fellow at Darwin College, Cambridge and Associate Director of the Centre for Financial History at Newnham College, Cambridge where he works on contemporary UK economic history. Before returning to academia, he worked as a credit trader at JP Morgan and then as a structured credit portfolio manager at Cairn Capital. Dr Needham lectures in Economic History and teaches undergraduate and graduate courses in history, economics and politics. Anthony Hotson is an associate member of the History Faculty at the University of Oxford, and a research associate of the Centre for Financial History at the University of Cambridge. He worked at the Bank of England during the 1980s, including a year on secondment as assistant commissioner at the newly formed Building Societies Commission. He also worked at McKinsey and Company before joining S. G. Warburg, where he was a corporate financier and director during the 1990s. Thereafter, he served as a non-executive director on a number of company boards in the insurance, fund management and banking sectors, as well as pursuing his academic interests. More recently, Dr Hotson has been a research fellow at the Winton Institute for Monetary History at the University of Oxford. He teaches macroeconomics and financial history, and has recently co-edited a book on the economic policies of the Thatcher government, and another on British financial crises since the nineteenth century. He is a non-executive director of Cenkos Securities plc and chairman of a charity, the Wadenhoe Trust.

Recensioner i media

'The arduous process of economic policy-making on the run is wonderfully exposed in this volume on the famous 1981 Budget. The reader is taken into the corridors of Great George Street and into the Faculties of Economics and should come away realising just how hard it is to do this stuff right.' Jagjit Chadha, University of Kent

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