Word: keynesism
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Most discussed war-financing nostrum in Britain today is John Maynard Keynes's plan for forcing all Britons above the subsistence line to invest fixed percentages of their income in blocked savings accounts. Last week financial men could remind themselves that the Keynes plan has a faint parallel in...
"Spiral of Inflation." To irate critics who call the whole ?400 million scheme a "forced loan," Professor Keynes is tireless in his calm, persuasive retorts. He starts by asking everyone to remember how, during World War I, prices rose much faster than wages (as they are again doing in Britain...
Professor Keynes claims that during World War I the main reason that prices leaped ahead of wages in Britain was that wage earners, flush with fat wartime pay envelopes, spent so lavishly amid a shortage of goods that they forced up prices to their own disadvantage. If they had "deferred...
The Rt. Hon. Arthur Greenwood, Deputy Leader of the Labor Party, has flayed the Keynes Plan as, "Good enough for Hitler's workers-but not good enough for ours." Lord Stamp, Economic Advisor to the Government, is still for "voluntary methods." Because good words have been said for the...
"Voluntary Methods." Nearest any member of the Government has come to touching the Keyres Plan in public was when Minister Without Portfolio Baron Hankey told the House of Lords that, "It has not been rejected." A forced loan was out of the question, said Lord Hankey, while the Government is...