Whilst trying to calculate the expenditure by UK Universities on property development and construction projects under the previous government, I came across an interesting paper by the Oxford Professor Avner Offer subtitled "The Political Economy of Prudence 1870-2000". Although the paper didn't deal with the period in which I am most interested, its exploration of the "political competition" between private and public control of services such as housing, health, transport and other infrastructure is instructive, and an addendum for 2000 to the present day would be very welcome. The original paper was published by Nuffield College Oxford in 2002.
In the meantime, the real political economy of prudence, or perhaps the political economy of real prudence, is definitely something worth valuable consideration. This isn't intended as an Irish joke, although, for my money, the mare called Prudence may have already bolted.
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