68. New Economics

68. New Economics

As we emerge from the serious instability in Britain caused by the defection of the American colonies and the war that followed, and as we stand on the brink of Britain’s pursuit of a second empire to replace the first, we pause for a moment to talk about Adam Smith, a man whose ideas have rung down the centuries to today. It turns out they’re not exactly what many of his admirers might suggest. But then, from his time on, most of them have been ignored by the people in power anyway.


Illustration: Adam Smith, etching by John Kay in 1790. National Portrait Gallery D16843

Music: Bach Partita #2c by J Bu licensed under an Attribution-NonCommercial-No Derivatives (aka Music Sharing) 3.0 International License

Jaksot(274)

241. Supermac: you've never had it so good

241. Supermac: you've never had it so good

Macmillan overcame the terrible legacy of the Suez catastrophe and, running an economy focused on growth to fund increasing living standards, giving him the opportunity to annouce that people had neve...

27 Huhti 202514min

240. Suez: nail in the imperial coffin

240. Suez: nail in the imperial coffin

Anthony Eden started his premiership well, chalking up a general election win and the lowest level of unemployment Britain has seen at any time since the Second World War. Little else went well, howev...

20 Huhti 202514min

239. Winston back, Winston out

239. Winston back, Winston out

The old man was back. The Conservatives won the 1951 election and Winston Churchill returned to Downing Street. And he really was an old man – nearly 77 when he took office. To many, he it seemed incr...

13 Huhti 202514min

238. Decline to defeat

238. Decline to defeat

Circumstances seemed unfavourable for a Labour victory in a 1950 election but, when it was held, Attlee managed to lead his party to the second win in its history. It took a majority of the popular vo...

6 Huhti 202514min

237. Citizen socialism at home, resisting the Soviets abroad

237. Citizen socialism at home, resisting the Soviets abroad

What Attlee’s government had shown was that, though it regarded itself as Socialist, it was a very distinctive kind of Socialism and heavily influenced by Liberal thinking. Where a more Marxist Social...

30 Maalis 202514min

236. Greyness at home, decline abroad

236. Greyness at home, decline abroad

Of the five ‘giant evils’ William Beveridge identified, the Attlee government set out to deal with want through social security, squalor through better housing, ignorance through more schooling and di...

23 Maalis 202514min

235. Clem against the Evil Giants

235. Clem against the Evil Giants

In the July 1945 general election, the British public offered Winston Churchill, as he put it himself, the ‘order of the boot’. A victorious war Prime Minister was kicked out. In his place, his deputy...

16 Maalis 202514min

234. Fall of an iron curtain and of a jewel from the crown

234. Fall of an iron curtain and of a jewel from the crown

It was a strange world that emerged from the Second World War.Both genocide and the mass killing of civilians, above all through bombing, culminating with the A-bombs dropped on Japan, had become some...

9 Maalis 202514min

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