1. It was crucial for successful demand management that central government generated or contained investment to an appropriate level. 2. The pressures of demand management and legitimacy therefore produced social democratic welfare policies at home. 3. The supply side was elevated in contrast to, Keynesian demand management. 4. These programmes were founded on a comprehensive Welfare State system complemented by the demand management of an expanding mixed economy. 5. Those in the Treasury who had tried to stop consideration of demand management attacked again. 6. The question of whether inflation would result from demand management was not seriously tackled. 7. From the point of view of demand management, therefore, frictional and structural unemployment is an irreducible minimum unemployment rate. 8. For these reasons monetarists argue that monetary policy cannot be used for short-run demand management. 9. It accepted, or appeared to accept, both the welfare state and Keynesian techniques of demand management. |