SPEND OR SAVE
ECONOMISTS DISCU.SS THE MERITS OF THE CASE. London, Saturday In a debate recently on expenditure, with Mr.' J. M. Keynes, the eminent economist, taking the part of "Mick, the Spender," and Sir Josiah Stamp, a' Director of' the Bank of England, as "Mac, the Saver," the latter contended that "Mick" could not do without him. "Mick" retorted, "You will be virtuous. I shall be glorious!" "Mick" said that one's expenditure repfesented another's income. When anybody cut expenditure, he said, somebody else found his income cut the following morning, and once the rot started it was difficult to stop. The British Government's cancellation of £30,000,000 of public works as the result of the national economy campaign, he said, was really part of the national campaign for the intensification of unemployment. The Budget could not be balanced, through measures reducing the "national income. The Chancellor of the Exchequ'er was simply ehasing his own tail aiid cloven hoof.
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Bibliographic details
Rotorua Morning Post, Volume 2, Issue 435, 20 January 1933, Page 2
Word Count
158SPEND OR SAVE Rotorua Morning Post, Volume 2, Issue 435, 20 January 1933, Page 2
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