In March 1981, 364 economists agreed to write to "The Times"
arguing strongly against the then government's monetary and fiscal
policy. However, the Thatcher government decided to ignore these
voices and continue the pursuit of policies to defeat inflation and
restore fiscal responsibility. To the opponents of the 364, this
decision marked a turning point in British post-war economic
history: every other post-war government had capitulated and
returned to policies of reflation and direct control of prices and
incomes in the face of intense political pressures when the going
was tough. The 1981 Budget, which precipitated the letter, was also
a turning point in other respects: from 1981 there was continual
growth, falling inflation and eventually, employment growth.
Arguably, the 1981 Budget set the scene for today's benign
macro-economic outlook and political consensus in favour of stable
prices and fiscal prudence. Amongst the 364 were many economists
who play a very prominent part in public life today. Some dissent
from their former views and others continue to justify them. In
this publication some of the signatories of the letter to "The
Times", together with their opponents discuss the key issues raised
and its relevance to economic policy today. Included is a list of
the original signatories and other relevant historical material.
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!
Welcome to Loot.co.za!
Sign in / Register |Wishlists & Gift Vouchers |Help | Advanced search
