Abstract
Looking through A.J.P. Taylor's famous 1961 work, The Origins of the Second World War, I first noticed a passage in it referring to the economic policies of the British “national” governments of 1931-39 - formally coalition, but with a decisive role of conservative politicians. During the Great Depression of the 1930s, Taylor believed, British statesmen feared violating liberal economic principles even more than they feared Hitler. Committed to the idea of stable prices and a stable pound sterling, they viewed the increase in public spending as a great evil, not realizing that this spending entailed “prosperity”.
Published Version
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