Jeremy Hunt’s accession to the chancellorship marked a return to the status-quo Treasury Orthodoxy that has resulted in the managed decline of the UK. A focus on increasing taxes to maintain high levels of public spending and to reduce the budget deficit is misguided – especially for the UK, which suffers from chronic underinvestment withContinue reading “Hunt Economics: Treasury Orthodoxy”
Category Archives: Fiscal Policy
Prudent Portugal
Portugal has undergone significant economic changes over the past two decades, undergoing a sharp deficit reduction plan to cut the cumbersome waste within its public sector by reforming its fiscal policy, tax rates, and welfare systems. Portugal’s economic performance since has held strong, with solid GDP growth over the coming decade; while not without itsContinue reading “Prudent Portugal”
FDR’s New Deal Failure
The New Deal didn’t rescue the US economy from the depths of the Great Depression – World War 2 did. FDR’s spending programmes marked the start of the New Deal era that dominated the US until the 1970s. It would take a decade of stagflation to reverse the disastrous effects that the emergence of theContinue reading “FDR’s New Deal Failure”
Hoover’s Harmful Policies
Contrary to popular belief, Herbert Hoover pursued a heavily interventionist economic agenda. Hoover’s accession to the Presidency in the late 1920s marked a sharp turn from the Republican Party’s laissez-faire economic policies that dominated the 1920s and produced unbridled prosperity. Former President Coolidge presided over balanced budgets, limited government and economic stability. By comparison, Hoover’sContinue reading “Hoover’s Harmful Policies”
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