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Wynne Godley


Wynne Godley, who died last week, wrote half a dozen pieces for the LRB. ‘Saving Masud Khan’, published in 2001, was ‘the story of a disastrous encounter with psychoanalysis which severely blemished my middle years’. A year earlier, he wrote a piece about the fragility of the US economy in which he observed:

It seems fair to conclude, at a minimum, that the high level of debt now poses a risk.

And in 1992, he wrote presciently about the flaws in the Maastricht Treaty:

The central idea of the Maastricht Treaty is that the EC countries should move towards an economic and monetary union, with a single currency managed by an independent central bank. But how is the rest of economic policy to be run? As the treaty proposes no new institutions other than a European bank, its sponsors must suppose that nothing more is needed. But this could only be correct if modern economies were self-adjusting systems that didn’t need any management at all.

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  • From the LRB Archive

    Edward Said: The Iraq War
    17 April 2003

    ‘This is the most reckless war in modern times. It is all about imperial arrogance unschooled in worldliness, unfettered either by competence or experience, undeterred by history or human complexity, unrepentant in its violence and the cruelty of its technology.’

    David Runciman:
    The Politics of Good Intentions
    8 May 2003

    ‘One of the things that unites all critics of Blair’s war in Iraq, whether from the Left or the Right, is that they are sick of the sound of Blair trumpeting the purity of his purpose, when what matters is the consequences of his actions.’

    Simon Wren-Lewis: The Austerity Con
    19 February 2015

    ‘How did a policy that makes so little sense to economists come to be seen by so many people as inevitable?’

    Hugh Roberts: The Hijackers
    16 July 2015

    ‘American intelligence saw Islamic State coming and was not only relaxed about the prospect but, it appears, positively interested in it.’

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