Towards the Managed Economy Keynes, the Treasury and the fiscal policy debate of the 1930s Economic History Series
Auteur : Middleton Roger
This is a major study of economic policy making in Britain between the wars. It provided the first full-length analysis of the early development of fiscal policy as a tool of modern economic management. The central question addressed is how Keynesian fiscal policies came to be adopted by the British government, with particular attention paid to the role of the Treasury and to that of Keynes himself.
Drawing extensively on unpublished documents hitherto untapped by economists or historians, Roger Middleton challenges the widely held view of official economic thinking as an ill-informed group of people holding ?the Treasury view? in opposition to Keynes?s prescriptions for deficient demand and mass unemployment. Instead he argues that acceptance of Keynesian economics during the Second World War resulted from political and administrative factors as much as a conversion to Keynesian theory. He investigates the form and impact of fiscal policy during the 1930s and, through a constant employment budget analysis, shows convincingly that at times of rising unemployment governments ignore at their peril the effects of automatic stabilizers upon budgetary stability.
Historians and economists welcomed this fresh perspective on a debate of historical as well as contemporary importance. Towards the Managed Economy is essential reading for all those interested in the rise and fall of Keynesian demand management. This classic text was first published in 1985.
List of Figures List of Tables List of Symbols and Conventions Acknowledgements 1. Introduction 2. Unemployment 3. The Treasury and Economic Policy 4. The Revenue Departments 5. Budget Definitions 6. Budgetary History 7. An Assessment of Changes in Fiscal Stance 1929–39 8. The ‘Treasury View’ and Public Works 9. Conclusions Appendices Notes Bibliography Index
Date de parution : 02-2015
15.6x23.4 cm
Date de parution : 11-2005
15.6x23.4 cm
Thème de Towards the Managed Economy :
Mots-clés :
HMSO 1931b; UK Export; HMSO 1927a; Vice Versa; Gdp Growth; Central Government; Budgetary Orthodoxy; Large Scale Public Works; Real Gdp; Sinking Fund Payments; Public Works Programme; Fiscal Stance; Constant Employment; Budgetary Policy; Interwar Unemployment; Policy Issues; Fiscal Operations; Balanced Budget Rule; Treasury View; Lm Schedule; Gdp Fluctuation; Revenue Departments; UK Good; Constant Factor Cost