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History Mrs Eells > Politics and Economics 1950s- > Flashcards

Politics and Economics 1950s- Flashcards

1
Q

Who invented Keynesian

A

John Maynard Keynes

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2
Q

What was keynesian

A

when the government interviened in the economy

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3
Q

Keynes- what would the government do if a boom

A

ppl spending too much - raise taxes, high interest rates

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4
Q

Keynes - what would the government do if a bust

A

ppl spending too little- lower taxes, decrease interest rates

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5
Q

keynes- do the government do the same as the ppl

A

no - if ppl saving government spend etc

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6
Q

what was thatchers economy approch

A

Laissex Faire - let it be

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7
Q

did labour prefer tax or interest

A

tax - they can tax who is rich

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8
Q

did conservative prefer tax of interest

A

interest- dont believe in government owning so dont need money to run things

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9
Q

what is privatisation

A

a conservative belief-companies and industries privately owned not owned by the government which is nationalisation

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10
Q

who won the election in 1951

A

conservatives - churchill

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11
Q

What voting system was used in 1951

A

First past the post - conservatives got less votes but still won

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12
Q

who was PM 1951-55

A

churchill

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13
Q

who was PM 1955-57

A

Antony Eden

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14
Q

who was PM 1957-63

A

Harold Macmillan

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15
Q

who was PM 1963-64

A

Alex Douglas-Home

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16
Q

What three key labour issues in Britain 1951

A

not wanting to return to the Great Depression
Not want a terrible war
establishment of a welfare state

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17
Q

what were the post war consensus terms

A

a mixed economy on nationalisation and privatisation
command economy
sharing responsibility between parties (non partisan approach)
a ‘big government’
maintaining full employment
cooperative relationshio with trade unions
welfare state

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18
Q

Conservative party 1951-55

A 
rationing ended
steel denationalised
300,000 homes a year
keynesian
nuclear bomb in 1952
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19
Q

what year was rationing ended

A

1951-55

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20
Q

when did uk detonate a nuclear bomb

A

1952

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21
Q

when did the korean war end

A

1953

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22
Q

What was the age of affluence

A 
ownership of ocnsumer goods grew
mens wages grew
rationing ended
trade improved
1955, britain produced 21% more industrial goods then in 1951
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23
Q

when was the age of affluence

A

1951-64

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24
Q

when and by how much did mens wages rise by

A

1951-1961 from £8.30-£15.35

25
Q

who was Butler

A

Butler was appointed Chancellor of the Exchequer

26
Q

What were Butlers policies

A

keynesian

full employment

27
Q

Butlers 1955 give away budget…

A

set the rate of tax so all middle class were given £134 million tax cuts
this brought votes from the middle class
still had enourmous debts so this led to a payment defecit- more leaving then coming in
critiseized for over stretching the economy
critisized for being too similar to labour

28
Q

What is Butskellism

A

A mash of Butler and Gaitskell as Butlers ideas were very Labour and Gaitskell was quite Conservative so they often met in the middle

29
Q

When did churchill reture

A

1955

30
Q

who succeeded Churchill, good election or not?

A

Eden, not a landslide but still good

31
Q

Tell about Anthony Eden

A

handsome man who had the tories ladies hearts
considered the rightful heir as was Churchill deputy
little interest in domestic affairs and many in foreign politics which acc turned out to be his downfall so quite ironic

32
Q

Eden’s Downfall

A

Suez Crisis
was foreign affairs
his decision to launch military action against Eygption coronal Nasser in 1956 was a disaster and national humiliasation
had to be called off when USA threaterned to stop helping them economically
turning point for Britains illusion of imperial power
eden seemed weak
he denied his collusion with France and Israel and lied to the HoC
shone how vunerable Britin was as a country with no money or power

33
Q

Politics during the Suez

A

he never r40 conservatives even the chief whip rebelled and opposed Eden
caused a run on the pound
this forced MM to lead the campeign to abort the Suez invasion

34
Q

Edens resign

A

he never recovered
resigned on signes of ill health
conservatives reovered quickly wiht MM and had no lasting aplits
MM named ‘supermac’ leading the party to another victory

35
Q

when did Eden resign

A

1957

36
Q

what was MMs nickname

A

supermac

37
Q

Harold Macmillan gaining power

A

suprising he got a strong grip so quicky
he continued affluecne making voters very happy
labour party was having problems under Gaitskell so less likely to vote
make conservatives look strong

38
Q

Why Macmillan not Butler

A

Butler was seen as most likely but had no interest in fighting for the position
he stood in for eden during the suez crisi and had not impressed fellow MPs
MM had a much sharper political sense he was an attack dog
he initialy supported eden at suez then changed his mind and opposed when things first started to turn sour
he made a speech in cabinet admitting suez had landed britain in £564 million in dept which showed he was honest

39
Q

Supermac, governemtn under him

A

5 years all good
labour in dissoray
one of the two most left sided conservative PMs
consensus continued

40
Q

how much debt did suez land britain in

A

£564 million

41
Q

MMs first cabinet events

A

made butler home secretary even though they were rivals

liberal approach to lehal and social issues - homicide act of 1957

42
Q

Balance of payment issues MM

A

economic pictur not positive
growth on wages outstripped production
MM appealed to people and industries to lower wages but refused
government had no option but to interviene and put taxes high
this event led to the balance of payments defecit of 1064

43
Q

when was the balance of payment defecit?

A

1964

44
Q

What are stop and go economics

A

letting the economy does rapid changes unlike keynesian where it slows smoothly

45
Q

1957 - what were the troubles in the cabinet

A

financial
run on the pound
this was a result of stop and go economics

46
Q

how did they deal with the 1957-58 financial situaion

A

the stearling regained its value to the extent that in 1959 the government did another give away budget

47
Q

when and how much was the second give away bidget

A

1957 and £370 million

48
Q

who won the 1959 election

A

conservatives won

49
Q

why did the conservatives win the 1959 election

A

labour were in disoray

50
Q

how many moths afer MM took power did he hold an election and why. was it a good win or not?

A

18 months the economic situation was very favourable at this moment. it was the most comortable post war win, they had majority,

51
Q

Who were the bevanites

A

the bevannites were people who supported Aneurin Bevan. They were left wing

52
Q

who was Bevan

A

Bevan was considered a hero , he was the architect of the NHS, hated the conservatives, resigned after the introduction of prescription charges in 1951

53
Q

who were the Gaitskellites

A

Gaitskellites were people who supported Gaitskells ideas

54
Q

who was gaitskell

A

he was the leader of the labout party after attlee lost in 1951, right wing of labout.

55
Q

1959 elections Labour

A

had gaitskell as their leader. genuine supprise when they lost, thought suez would make them win

56
Q

what is unilateral disarmament

A

this is the policy of renouncing use and possesion of nuclear weapons without waiting for any international consultation or agreement.

57
Q

what is CND

A

CND is an organisation that was formed in 1958 one year after BR tested the hydrogen bomb and 6 after they tested their first A bomb, people were very conserned especially because of the tensions at suez

58
Q

who backed CND

A

Many left wing intellectuals, many middle class protestors. March 1958 8000 people took part in a march supporting CND in Aldermaston

History Mrs Eells (1 decks)

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