Keynes and 'Keynesians'
Sir: "Inflationary pressure," says Professor R. C. Bellan (November 23), "will abate only when inequality of income is still farther reduced, when the living standards of the majority come even closer to those of the comfortably off minority." He does not make it clear what equilibrium will make it practicable, when that situation is reached, for the government to pursue the monetary and fiscal policies necessary for the maintenance of a stable price level. If he thinks that envy (which his article leads one to suspect is at the back of his mind) will ever be at a loss to find an object of resentment, he is, in my view, destined for a bitter disappointment.
D. E. Folkes 5 Queens Walk, London W5
Sir: In his otherwise stimulating article Professor Bellan writes: "Today's generation of workers is a phenomenon• new in history — a labour force that is composed almost entirely of people who are knowledgeable, well educated and feel entitled to a comfortable standard of living."
Are these millions of knowledgeable, well-educated people within the experience of your readers?
• Athol Gallifent 248 Marylebone Road, London NW1
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