Montagu Norman is identified as the Bank of England governor whose advice helped persuade Churchill. His governorship is dated from 1920 to 1944. Other supporters of the policy are described as working in or around the Bank's circle. Keynes's opposition is credited with anticipating the damage and helping establish his reputation as an economist. His subsequent proposals to remedy that damage are also judged more often right than wrong. His work on the Great Depression receives a less favourable assessment.
Notable Point · 49:34-52:45
Montagu Norman, Keynes and competing economic advice
The discussion contrasts Bank of England advice with Keynes's warning about the effects of restoring gold.