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Crisis Watch: Congdon’s on the money


The credit crisis is producing some odd bedfellows. Take Tim Congdon, who is one of our more hair-shirted monetarists. Congdon has been one of the leading supporters (and intellectual authors, if some are to be believed) of the quantitative easing policy pursued by the treasury and the Bank of England. This lines him up alongside those he would usually count as his intellectual foes—the Keynesians and big government men.

This does not mean that Congdon has cut all his intellectual…

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