The economy
Sir,—Mark Sadler stated that I am not grasping the facts (as he sees theme, yet he clearly distorts facts and manages to contradict and misquote himself from letter to letter. In a recent letter he said that current United States economic policy is free market monetarism, which he sees as being nineteenth century capitalism with a new name. Then in his last letter he cites “Reaganomics” as more Keynesian than monetarist because Reagan has increased the budget deficit to maintain economic growth. Mr Sadler should make his mind up and end his confusion. It is pointless trying to label New Zealand and United States policy as either monetarist or Keynesian, asboth Governments, while implementing free market policies, remain pragmatic and use interventionist measure where they deem it appropriate. Conversely, Mrs Thatcher has allowed whole industries to collapse by failing to intervene. Our Government is not about to imitate her callousness.— Yours, etc., HUGO STEINCAMP. December 17, 1985.
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Press, 20 December 1985, Page 16
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159The economy Press, 20 December 1985, Page 16
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