Honest Stockman
Sir: I am sorry that Tom Bethell from Washington considered it appropriate to refer to the Stockman affair as a 'crucifixion' (21 November), and still more that he thinks he, Stockman, may have to step down — I suspect I was not alone in finding the revelations that caused the upset most refreshing. What a benefit for men in power to say from time to time they may have got it wrong, and of even greater advantage and improbability for economists in office to agree that their pet theories are not quite producing the results they expected and perhaps something else could be tried. If the Americans make fools of themselves with over-reliance on their crude and inadequate supply side economics, as we have done with our monetarism, and are still doing with our M3 obsession, the whole of the free world economy will suffer.
As well as honesty Stockman clearly is of quite exceptional competence and it is most encouraging that the President has had the strength and foresight to keep him on the team. Oh how we wish we had his like in Downing Street.
Sydney Shenton
95 The Crescent,
Davenport, Stockport, Cheshire,
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