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Description
The programme is given over to the history of the balanced budget controversy in the 1930s. Keynes' views andd theories which conflicted with accepted economic doctrine at the time are also examined.
The programme is given over to the history of the balanced budget controversy in the 1930s. Keynes' views andd theories which conflicted with accepted economic doctrine at the time are also examined.
| Module code and title: | D282, National income and economic policy |
|---|---|
| Item code: | D282; 03 |
| First transmission date: | 09-04-1972 |
| Published: | 1972 |
| Rights Statement: | |
| Restrictions on use: | |
| Duration: | 00:23:55 |
| + Show more... | |
| Producer: | J. Radcliffe |
| Contributors: | Alan Peacock; W B Reddaway; Leslie Wagner |
| Publisher: | BBC Open University |
| Keyword(s): | Balanced budget; Economic policy; Macro economics |
| Footage description: | Leslie Wagner introduces the programme. He describes very briefly the way in which the budget is used today and contrasts it with the balanced budget controversy of the 1930s. Wagner sketches in the historical background to the balanced budget controversy. Film of World War I soldiers returning to the U.K.; sequence of still photographs of shipyards, factories, political figures and citizens illustrates Wagner's historical outline. Wagner outlines the effect upon the British economy of the Wall Street crash and its effects particularly on unemployment. Film of stock market trading. Film of unemployed marches. Wagner returns to the problem of the unemployed. He outlines the basic stances of the two schools of economic thought, the Keynesians on the one hand and the balanced budget supporters on the other. Prof. Peacock comments on the traditionalists' view that the budget should balance; i.e. the stance to which Keynes was in opposition. Peacock comments in detail on the traditionalists arguments. He outlines the principal results of what he has indicated were conflicting fiscal and monetary policies. Wagner now introduces Prof. Reddaway who, in response to Wagner's questions, outlines the stance of Keynes and the history of the latter's opposition to the traditionalist 'balanced budget' theory. Having considered briefly Keynes standpoint and the ways he publicized his views, Wagner and Reddaway go on to discuss Keynes' opposing view and the rate at which his ideas were accepted. Prof. Peacock describes in some detail the basis of the Keynesian attack on the traditionalist 'balanced budget' school. Leslie Wagner sums up the programme, and the economics of the period. Credits. |
| Master spool number: | 6LT/70533 |
| Production number: | 00521_2239 |
| Videofinder number: | 137 |
| Available to public: | no |
