An interesting ‘Observer’ editorial laments the decline of Keynes’ post-war ‘consensus’ for the future of civilised society as it seemed to be at the time.
Conservatives mobilised an argument that generous welfare spending did not just undermine capitalism, but had inflationary, destabilising consequences and hence was a threat to democratic governance.
Our government is similarly motivated whilst proudly suggesting it represents the will of the people, though actually having received the votes of only about 19% of the electorate.
And what it seems to be doing is re-embracing Keynesianism but without Keynes’ sense of purpose or indeed any sense of duty or respect.
If Keynes was the dominant controlling mind post-war, we have, in the form of Cummings, an even more dominant controlling mind post Brexit, but this one seems to have no plan and certainly no respect.
Perhaps – in the merging of special advisors between number 10 and number 11 – we are finally at a realisation of the origins and purpose of money. Yet there appears to be no suggestion of letting on that the Thatcher’s 1976 idea that “The problem with socialism is that you eventually run out of other people’s money” must, therefore, be bunkum and why Esther Mcvey, quoted in this week’s ‘Sunday Times’ as saying “it’s better to ensure you have the money rather than running out, which is why I’m a Conservative” must be similarly deluded.
When we seem to have a government that no longer believes in the bogus household theory of government but still fails properly to resource public services or care for its people then we are (as Sean has suggested) walking blindly down the fascistic path.
We have a government exercising power for its own sake and not one that seems to have any idea what it is actually for.