It’s a shitshow: Thatcher’s Failed Experiment
Florence Sutcliffe-Braithwaite, 8 May 2025
In 1981, in the wake of a budget that slashed government spending amid a steep economic downturn, 364 academic economists signed a letter to the Times. ‘The time has come,’ it said, ‘to reject monetarist policies,’ since ‘there is no basis in economic theory or supporting evidence for the government’s belief that by deflating demand they will bring...