The UK’s Coalition government and heterodox economics
分析英国联合政府削减财政赤字的政策，指出其并未如异端经济学家预测的那样损害就业和增长，反而实现就业新高和经济复苏，并探讨这对异端经济学和经济政策的启示。
The UK Coalition government’s economic policy was primarily aimed at reducing the large fiscal deficit that it inherited, mainly by cutting expenditure. This was considered irrational by heterodox economists on the grounds that it would harm employment and output. Politicians influenced by this tradition advocated a plan B. Experience has shown that the Coalition government’s policy was not irrational. Employment reached record heights and economic growth resumed. The paper draws attention to the implications of these facts for heterodox economics and economic policy. It is concluded that, just as mainstream economics had to rethink after the economic crisis of 2008–09, so heterodox economics has to rethink after the recovery of 2014–15.