Rema on Denis Healey
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“Keynesianism has failed.”
“The borrowing requirement was 'terrifying'. He just had to cut back public expenditure. The Social Contract wasn't working. Inflation was getting out of control.”
“We are spending 6 per cent more than we are earning... You can also bankrupt a nation by excessive wage demands... That is why I said that it is better to have a lower standard of life for all workers than for some of them to be unemployed.”