The experience of the Economic Advisory Council provides the
relevant policy background to the Keynesian revolution in economic
theory, and to the adoption of the principles of economic
management in Britain during the Second World War. This study of
this pioneering advisory institution against the inter-war setting
of depression, financial crisis and recovery is based on government
records, supplemented by other contemporary sources. The book deals
with the political and economic origins of the E.A.C. in the
post-1918 decade; the role of the Council and its committees of
inquiry as the world slump began to make an impact on an already
depressed British economy; and the part played by individual
economic advisers in the dramatic events which led to the fall of
the second Labour Government and Britain's departure from the gold
standard in 1931. Throughout the nineteenthirties the work of the
Council was carried on by the Committee on Economic Information,
which helped to provide the National Government with solutions to
the complex and novel problems of a post-gold standard world. In
addition to assessing the significance of the E.A.C. experiment,
the book reprints a number of reports and gives a guide to the
relevant documents in the public archives.
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