J. M. Keynes
Sir : As an eager student of macroeconomics, with some political ambition, I really did appreciate the recent article in the Spectator by Robert Skidelsky, on the nature of Keynesian economics, etc.
I think he is quite correct to state that if demand is increased, supply will not (as Keynes thought) take care of itself. Instead, the result may be to suck in a lot of manufactured imports, as has , unfortunately happened in Britain in the 1970s, which has neither stimulated British industry nor helped our balance of payments.
I note that your contributor considered that only in Nazi Germany was the unemployment of the 1930s completely cured. Perhaps this success was achieved by positively thinking of useful jobs for idle men to do, such as building modern autobahns with plenty of labour and few imported earth-moving machines.
In present-day Britain. a ban on further immigration would help the situation.
P. M. Kingston 109 Littledean, Yate, Avon
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