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.
— David Carlton
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 | Political Dictionary. The Concise Oxford Dictionary of Politics. Copyright © 1996, 2003 by Oxford University Press. All rights reserved. Read more |
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