From: "Andy" <as-AT-spelthorne.ac.uk>
Date: Tue, 23 Feb 1999 20:41:34 +0000
Subject: Re: Decline of Anarchism



> 
> Funny how all the claims of the right in the 1970s have
> been proven to be wrong. Monetarism failed big time (given
> it was nonsense, thats not a surprise). Economic growth
> is getting slower with each decade (again, when the Blairites
> say they favour "wealth creation, not distribution" it 
> shows how stupid they are -- increasing inequality has 
> resulted in slower growth (again, as utterly non-predicted
> by the right).


Funnily enough, bored  in the very late 80s, I engaged in a heated 
exchange of letters with William Keegan, the Observer economist, who 
claimed to be writing about recessions and whether we would spend our 
way out of it. My point was that spending had often been led by 
relatively secure employees [eg public sector workers] who were now 
no longer secure and who I suspected were unwilling to go on a spree. 
Plus there was no public expenditure period. He wouldn't have this at 
all - at any rate he wouldn't put it in its column - it was clearly 
one of those heresies like' house prices can go down'. This is what's 
happening though especially in Japan. Look also at the falling 
shares: M&S, furnishings, etc etc. 

I just wonder how they're going to spin negative growth and what that 
will do for profits?


_as