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Drifting between helplessness and patent cures
between reform and counterreform
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activity adjustment Austria average balance of payments Britain British budget capital common competition constraints contributions counter-reform currency current-account deficit decline demand despite dollar economic policy effect energy Europe Europe's European Community European countries exchange rate exchange-rate expenditure exports external factors favourable firms fiscal foreign France Gaston Thorn Germany's growth rate higher important incomes policy increase industrial countries inflation inflationary interest rates intervention investment Italian economy Italy Japan Keynesian less long-term manufacturing measures ment monetarism monetary North Sea oil OECD OECD countries oil crisis oil price explosion OPEC output particularly parties period political pressures problems productivity profits protectionism quarter Raymond Barre recession reduced relative restructuring rise role sector social stability sterling structural supply-side economics Sweden Swedish Table tion trade unions trend unemployment United Kingdom wages West Germany western workers world economic