• ABUSIVE FIGMENTS [To the Editor of THE SPECTATOR.] Snt,—In
last week's "Spectator's Notebook," in a paragraph on "Rival Schools of Economists," reference is made to "The London school, all for continued deflation." This phrase must not be allowed to pass uncorrected. I know no economist, at present domiciled in London, who stands (or who has stood) for a policy of" continued deflation " ; and I know many who would be most decidedly opposed to such a policy. A London school of deflationists is a figment of your contributor's imagination.
Of course, " deflationist " is an excellent term of abuse ; and, since the term " expansionist " was invented to describe a policy of restricting imports, it has become fashionable to describe as " deflationists " all those who have opposed protectionism, inflationism, extravagant government ex- penditure, and all the other nostrums by which those who prefer action at any price to the painful effort of thought have brought the world to its *sent condition. But I am surprised to find " Janus" giving countenance to such a usage.—I am, Sir, &c., LIONEL ROBBINS. London University, London, W.C. 2.
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