#8517
Mentioned in 4 episodes
The economic consequences of Mr. Churchill
Book • 1925
In 'The Economic Consequences of Mr. Churchill', John Maynard Keynes critiques Britain's decision to return to the gold standard in 1925.
Keynes argued that this policy would lead to economic overvaluation and chronic unemployment, as export industries would struggle to reduce prices without corresponding reductions in wages and other costs.
His predictions were later vindicated when Britain abandoned the gold standard in 1931.
Keynes argued that this policy would lead to economic overvaluation and chronic unemployment, as export industries would struggle to reduce prices without corresponding reductions in wages and other costs.
His predictions were later vindicated when Britain abandoned the gold standard in 1931.
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Mentioned in 4 episodes
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Robert Peston
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