UK economy: at your Keynesian convenience

The UK economy is a bit desperate and the government is looking for relief. Suddenly John Maynard Keynes, the eminent economist, is looking convenient. «Much of what Keynes wrote still makes sense,» Alistair Darling, the UK Chancellor, said at the weekend, quite correctly. But what Darling is saying about Keynesian policy doesn’t. Darling hopes to disguise the UK’s record budget deficit – likely to be over 4% of GDP this year and worse next—with a Potteresque invisibility cloak of “Keynesian po...