Douglas Carswell's Blog

The Chancellor's monetary stimulus won't work

In the 1970s, Anthony Barber, the then Chancellor, tested to destruction the idea that a fiscal stimulus could produce economic growth. 

In an interview with the Spectator tomorrow, the current Chancellor, George Osborne talks about using the “full fire power of monetary activism”.  

I fear that the Chancellor is merely testing to destruction the notion that monetary stimulus can produce growth.

A new generation of Conservative thinkers are beginning to appreciate that more cheap credit is not the answer.  We are going to need something more than stimulus economics.

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