Inside Thatcher’s Monetarism Experiment: The Promise, The Failure, The Legacy
A Treasury official who was in the room when Britain tried monetarism and it did not go to plan.
Tim Lankester served as private secretary to Margaret Thatcher and watched the monetary targets of the early 1980s set, missed, and quietly abandoned amid the deepest recession since the war. He is well placed on what was intended, what happened instead, and which parts of the experiment outlived the theory that produced it.
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Tyler Cowen
Tim Lankester, Inside Thatcher’s Monetarism Experiment: The Promise, The Failure, The Legacy, the author was on the scene in the Thatcher government.
Source · October 2024
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