The tide turned during the Today programme in September 2008 when two figures from Goldman Sachs pleaded for more government intervention to save the banks. Ever since government hyper-activity has been part of the solution and not the source of the problem. In the US, Germany, France and the UK, Keynes is back in fashion. Here Labour and the Liberal Democrats have broadly agreed on the response to the crisis, from the nationalisation of Northern Rock to the need to keep spending until the recession is at a safe distance. On these issues Cameron and Osborne have been backward-looking while claiming to be the instruments of change.Steve Richards: The tide has turned, and the Tories are swimming against it - Steve Richards, Commentators - The Independent
An interesting article where Steve Richards paints Cameron as a denial candidate, unable to accept the fact that the economics since Thacher has changed and perhaps leading a plurality who are also unable to accept the obvious facts. Richards argues that no matter what the desire of the Tories and 40% of Britain might be, the tide has changed. He compares today's Tories to the Labour of the 1970s, able to win two elections in a row but unable to keep up with history.
Very interesting post.