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

Politics and Economics 1950s- Flashcards

(58 cards)

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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

Study These Flashcards
A

1951-1961 from £8.30-£15.35

25
who was Butler
Butler was appointed Chancellor of the Exchequer
26
What were Butlers policies
keynesian | full employment
27
Butlers 1955 give away budget...
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
What is Butskellism
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
When did churchill reture
1955
30
who succeeded Churchill, good election or not?
Eden, not a landslide but still good
31
Tell about Anthony Eden
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
Eden's Downfall
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
Politics during the Suez
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
Edens resign
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
when did Eden resign
1957
36
what was MMs nickname
supermac
37
Harold Macmillan gaining power
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
Why Macmillan not Butler
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
Supermac, governemtn under him
5 years all good labour in dissoray one of the two most left sided conservative PMs consensus continued
40
how much debt did suez land britain in
£564 million
41
MMs first cabinet events
made butler home secretary even though they were rivals | liberal approach to lehal and social issues - homicide act of 1957
42
Balance of payment issues MM
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
when was the balance of payment defecit?
1964
44
What are stop and go economics
letting the economy does rapid changes unlike keynesian where it slows smoothly
45
1957 - what were the troubles in the cabinet
financial run on the pound this was a result of stop and go economics
46
how did they deal with the 1957-58 financial situaion
the stearling regained its value to the extent that in 1959 the government did another give away budget
47
when and how much was the second give away bidget
1957 and £370 million
48
who won the 1959 election
conservatives won
49
why did the conservatives win the 1959 election
labour were in disoray
50
how many moths afer MM took power did he hold an election and why. was it a good win or not?
18 months the economic situation was very favourable at this moment. it was the most comortable post war win, they had majority,
51
Who were the bevanites
the bevannites were people who supported Aneurin Bevan. They were left wing
52
who was Bevan
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
who were the Gaitskellites
Gaitskellites were people who supported Gaitskells ideas
54
who was gaitskell
he was the leader of the labout party after attlee lost in 1951, right wing of labout.
55
1959 elections Labour
had gaitskell as their leader. genuine supprise when they lost, thought suez would make them win
56
what is unilateral disarmament
this is the policy of renouncing use and possesion of nuclear weapons without waiting for any international consultation or agreement.
57
what is CND
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
who backed CND
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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