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Wynne Godley

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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

    Chris Lehmann: The Candidates
    18 June 2015

    ‘Every one of the Republican candidates can be described as a full-blown adult failure. These are people who, in most cases, have been granted virtually every imaginable advantage on the road to success, and managed nevertheless to foul things up along the way.’

    Hugh Pennington:
    The Problem with Biodiversity
    10 May 2007

    ‘As a medical microbiologist, for example, I have spent my career fighting biodiversity: my ultimate aim has been to cause the extinction of harmful microbes, an objective shared by veterinary and plant pathologists. But despite more than a hundred years of concentrated effort, supported by solid science, smallpox has been the only success.’

    Jeremy Harding: At the Mexican Border
    20 October 2011

    ‘The battle against illegal migration is a domestic version of America’s interventions overseas, with many of the same trappings: big manpower commitments, militarisation, pursuit, detection, rendition, loss of life. The Mexican border was already the focus of attention before 9/11; it is now a fixation that shows no signs of abating.’

    James Meek: When the Floods Came
    31 July 2008

    ‘Last July, a few days after the floods arrived, with 350,000 people still cut off from the first necessity of life, Severn Trent held its annual general meeting. It announced profits of £325 million, and confirmed a dividend for shareholders of £143 million. Not long afterwards the company, with the consent of the water regulator Ofwat, announced that it wouldn’t be compensating customers: all would be charged as if they had had running water, even when they hadn’t.’

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