The Addlestone Chronicles was written as a result of my lifelong interest in economics and economic history, and particularly the events that occurred between the two world wars. Prior to that, the conventional wisdom was that free-market capitalism was a successful economic system that would provide both productive and allocative efficiency. It was argued that an unfettered and unregulated market economy would offer the benefits of sustained and sustainable growth that would add to the welfare of members of society as a whole. In the United States, it was popularised by the aphorism that ‘A rising tide lifts all boats’. Since Reagan’s presidency, this has been used to justify dismantling the remnants of the welfare state set up by FDR along with government regulations to control monopolies and limit unfair restrictive business practices.
Please feel free to post comments as the dialogue progresses over the months ahead.
(Photo: The Crouch Oak. It is estimated to be about 900 years old and legend has it that Queen Elizabeth stopped in it’s shade in the 1560’s and had a meal.)