Originally published in 1968, Richard Chapman's pioneering work
illuminates the process of decision making by analysis of a
particular example: the decision to raise the Bank Rate in
September, 1957. The legal responsibility for a decision may be
easy to pinpoint; in this case the Court of Directors of the Bank
of England bear this but six weeks of negotiation separate their
formal statement from the Chancellor of the Exchequer's advice to
the Treasury to consider effecting 'a measure of deflation in the
economy'. These six weeks of consultation between the Bank and the
Treasury proceeding in 'the pattern of a formal dance' are analysed
and a necessary by-product of this case-study is a closer
understanding of how the Treasury and the Bank of England work
together. These details are derived mainly from the evidence, and
deductions from it, presented to the Bank Rate Tribunal and the
Radcliffe Committee on the Working of the Monetary System.
Professor Chapman gives his particular findings about decision
making a wider application still by forming reasoned hypotheses and
informed generalisations about public administration in Britain.
General
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