The 364 Economists and the 1981 Budget: An Examination of the Empirical Evidence

5 Pages Posted: 13 Dec 2006

See all articles by Tim Congdon

Tim Congdon

Institute of Economic Affairs (IEA)

Abstract

Earlier this year we passed the 25th anniversary of the letter to The Times from 364 economists protesting about government economic policy in general and the 1981 Budget in particular. In a recent publication, Stephen Nickell, then a member of the Monetary Policy Committee of the Bank of England, defended the letter. This article contends that Nickell's argument was wrong. This is not merely a matter of historical interest, it is important that the issues are understood if mistakes are not to be made in economic policy in the future.

Suggested Citation

Congdon, Tim, The 364 Economists and the 1981 Budget: An Examination of the Empirical Evidence. Economic Affairs, Vol. 26, No. 4, pp. 34-38, December 2006, Available at SSRN: https://ssrn.com/abstract=951299 or http://dx.doi.org/10.1111/j.1468-0270.2006.00666.x

Tim Congdon (Contact Author)

Institute of Economic Affairs (IEA) ( email )

2 Lord North Street
London SW1P 3LB
United Kingdom

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