Comments on a Tim Worstall piece elsewhere

An entirely unconvincing argument, it’s more of a leftie luvvie rant than solid fact based journalism.

Yep, a Worstall lefty luvvie rant.

Quite disappointed to find this sort of left wing clap trap in the register – reads more like something out of the socialist worker.

Socialist Worker even.

This piece belongs in the Guardian or New Statesman.

G or NS?

I’m actually pointing out that expansionary austerity did in fact work in the UK in the 1930s.

10 thoughts on “Comments on a Tim Worstall piece elsewhere”

  1. So the answer is for the £ to sink? Against what? Should I be buying $ or Yen? Or should I wait for the Drachmas (or Reichsmarks?) to be available again?

    Or gold and silver, Jim lad, Jimmy O’Goblins and Pieces of Eight?

  2. Why is saving your handout rather than spending it bad? Saving it means putting it in the bank where it puts downwards pressure on interest rates, making it more likely someone will borrow it rather than spend it.

    Since we have a free market in the one thing we really need a free market in – interest rates. Oh, wait…

  3. Should read “…more likely someone will borrow it and then spend it.”

    I guess I am wondering why there is such a thing as monetary policy at all.

  4. Government believes it controls the economy. It only acts as a throttle, restricting economies. Statists love Keynesian econmomics, because it tells them they are important.

  5. What you have written doesn’t seem all that clear Tim. You want people to receive smallish checks from the state (tax refunds?) so they will spend them and stimulate the economy Keynes-style ? So you don’t want Ostwat to and his new lame cuts onto the pathetic cuts he has already made?–is that correct? Or were you being ironic?

  6. So Much for Subtlety

    dearieme – “Or gold and silver, Jim lad, Jimmy O’Goblins and Pieces of Eight?”

    As the only economic advisor worth a dime once said – shotguns and canned food.

    I like the idea of someone accusing TW of being a writer for the Socialist Workers Party. As someone who likes to think of himself as a fringe dweller, that is pretty fringe.

  7. So Much for Subtlety

    I’m actually pointing out that expansionary austerity did in fact work in the UK in the 1930s.

    Until everyone did it. Competitive devaluations are said to be one of the causes of the Great Depression – and a factor in how long it was prolonged.

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