“FINANCIAL TIMES” ARTICLE BY SAMUEL BRITTAN

August 31, 2010 at 1:29 pm | Posted in Economics, Eurozone, Financial, Globalization, History, Research, United Kingdom | Leave a comment

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New Samuel Brittan article:

The return of beggar-my-neighbour policy

The Financial Times 27/07/10

Andrew Heavens (andrew.heavens@gmail.com)

Mon 8/30/10

The return of beggar-my-neighbour policy

The academic name for the economic policy into which the British prime minister has stumbled is “mercantilism”. According to the Encyclopaedia Britannica, this is “the economic theory and practice common in Europe from the 16th to the 18th centuries that promoted government regulation of a nation’s economy for the purpose of augmenting state power at the expense of rival national powers”. Among its doctrines was that the trade balance must be favourable, meaning an excess of exports over imports…The best name [for modern mercantilism] is “beggar-my-neighbour” economics. This was coined by the leftwing Cambridge economist Joan Robinson – no market fundamentalist she. By this she meant that because governments were unwilling or unable to promote output and employment by domestic means they had to resort to trying to promote it at the expense of other countries.
http://samuelbrittan.us1.list-manage.com/track/click?u=f3d103dd062d8e2eb1704a4f9&id=a93f37461d&e=66c71111bc

New Samuel Brittan article: The return of beggar-my-neighbour policy

The Financial Times 27/07/10

Andrew Heavens (andrew.heavens@gmail.com)

http://samuelbrittan.us1.list-manage.com/track/click?u=f3d103dd062d8e2eb1704a4f9&id=a93f37461d&e=66c71111bc

Mon 8/30/10

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