General Discussion

Mr S. Brickell: May I take up a point made by two of the speakers. Both Mr Heath and Professor Reddaway appear to have suggested that what is required in the world today are men of practical rather than theoretical bent, particularly in regard to the underdeveloped nations of the world. The implication of their remarks appeared to me to be that theory is all very well but it cannot be applied in the conditions which prevail today in the Third World. The corollary of this view is that the work of Keynes, particularly the General Theory, is not applicable. In fact Keynes was a very pragmatic theorist.