I admire Vince Cable’s audacity, arguing, as he has in his New Statesman essay, that John Maynard Keynes would have supported the Coalition Government’s deficit reduction package. Sadly, my admiration stops there.
Cable is quite correct to point out that Keynes was a liberal, not a socialist. Keynes was not a man of the left, in the political times in which he lived; the fact that he is associated with the left today is a sign of how the political centre of gravity has moved rightwards. A more interesting question is whether Vince Cable is a Liberal (as opposed to a liberal). Coming a day after Nick Clegg called for political differences within the Coalition to be aired publicly, so the voters can spot the Liberal arguments, Vince Cable chooses some strange bedfellows. Quotes from his essay, including “another point made by both me and George Osborne in 2009″ and “In modern times, the best analysis has come from Friedrich Hayek” do not exactly put clear yellow water between Vince and the right.