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Butskellism


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Term popularized in Great Britain during the 1950s, coined in The Economist by merging the names of two successive Chancellors of the Exchequer, Labour's Hugh Gaitskell (1950–1) and the Conservative R. A. Butler (1951–5). Both favoured a ‘mixed economy’, a strong welfare state, and Keynesian demand management designed to ensure full employment.

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