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- DescriptionIn 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 ecomic 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 ecomic 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 ecomists, political scientists, historians and policy makers.
- Author BiographyDuncan 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.
- PublisherCambridge University Press
- Date of Publication15/09/2014
- SubjectEconomics: Professional & General
- Place of PublicationCambridge
- Country of PublicationUnited Kingdom
- ImprintCambridge University Press
- Content Note9 b/w illus. 10 tables
- Weight500 g
- Width152 mm
- Height228 mm
- Spine17 mm
- Edited byAnthony Hotson,Duncan Needham
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