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Podcast: The Bunker – News without the nonsense
Episode: Extreme Economics – What monetarism meant for Britain, with ex-Thatcher’s advisor Tim Lankester
Description: Say “monetarism” to anyone who was around in the early 80s and watch the chill run down their spine. Margaret Thatcher tried to conquer inflation by using a fringe economic credo of slashing the money supply. The result was a collapsed economy and unemployment on a colossal scale. What was monetarism? Did it work, even in its own terms? And where are its echoes today?Tim Lankester – then the PM’s private secretary for economic affairs, now author of Inside Thatcher’s Monetarism Experiment – takes Andrew Harrison back to an age of scorched earth economics. • “She set out to get...