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dc.contributor.authorToye, Richarden_GB
dc.date.accessioned2012-06-22T14:52:38Zen_GB
dc.date.accessioned2013-03-20T14:13:42Z
dc.date.issued2007-11-01en_GB
dc.description.abstractIn September 1994, during the early months of the phenomenon known as ‘New Labour’, The Independent carried the headline ‘Blair ditches Keynes’. It was reported that Labour leaders would tell a conference of businessmen and academics ‘that the party has turned its back on Keynesian economics and “the old ways of corporatism”’. In fact, Blair used his speech to insist that Keynes's legacy of demand management had never implied increasing demand ‘irrespective of economic circumstances and even at a time of inflation and high borrowing’. Real Keynesianism, in his view, represented a wider critique of the functioning of capitalism – not a call for permanent government pump-priming. Likewise, Gordon Brown stated on the same occasion that ‘I am not here to bury the real Keynes but to praise him’. This is an approach that New Labour followed in government. Blair continued to cite Keynes as an example of the beneficial influence of Liberalism on the Labour party. Brown, as Chancellor, asserted that although New Labour rejected ‘crude “Keynesianism”’, the government sought ‘to draw on the best of Keynes’ insights about political economy and put a modern Keynesian approach into practice'. Blair and Brown's approach represents an attempt, whether conscious or otherwise, to employ Peter Clarke's useful distinction between ‘Keynesianism’ and ‘the historical Keynes’. In their opinion, the views of the ‘real’ (or ‘historical’) Keynes were misinterpreted by the economists and politicians who came after him.
dc.identifier.citationIn: The Strange Survival of Liberal England - Political Leaders, Moral Values and the Reception of Economic Debate, edited by E. H. H. Green and D. M. Tanner, pp. 153-185en_GB
dc.identifier.doihttp://dx.doi.org/10.1017/CBO9780511496240.006en_GB
dc.identifier.urihttp://hdl.handle.net/10036/3628en_GB
dc.language.isoenen_GB
dc.publisherCambridge University Pressen_GB
dc.subjectKeynesen_GB
dc.subjectKeynesian economicsen_GB
dc.subjectLabour partyen_GB
dc.subjectPolitical economyen_GB
dc.subjectBritish historyen_GB
dc.titleThe Labour party and Keynesen_GB
dc.typeBook chapteren_GB
dc.date.available2012-06-22T14:52:38Zen_GB
dc.date.available2013-03-20T14:13:42Z
dc.identifier.isbn9780511496240en_GB
dc.descriptionCopyright © Cambridge University Press 2012. Published version reproduced with the permission of the publisher.en_GB
refterms.dateFOA2023-06-14T18:02:51Z


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