Chris Dillow: The full employment question

“Never mind the public finances. Look after the economy and the deficit will look after itself.” For years, critics of George Osborne such as me echoed Keynes’ old line. At last, the Tories are, by their own lights, heeding this call. And financial markets hate it. Does this mean the Keynesian advice was wrong all along?

No. There’s a big difference between the 2010s and now.

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