The Scourge of Monetarism, Part 1
Monograph examining trends and economic implications of monetary policies in the UK - comprises two Radcliff lectures and evidence to a Treasury Civil Service Committee on the inefficacy of current counter- inflationary economic policies based on monetarism, examines problems of alternative methods of controlling the money supply, and includes wage policy, price policy and exchange rate and fiscal policy suggestions. Graphs, references and statistical tables.
MONETARY POLICY IN THE UNITED KINGDOM
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amount balance of payments bank deposits bank lending Bank of England banking system billions cash cause cent Central Bank change in money clearing banks Cmnd commodities commodity-money competitive cost countries credit-money current account demand for money economic effect excess demand exchange rate exogenous expectations expenditure exports fall financial assets Financial Statistics Friedman funds gilts gold Government Government's growth higher hold imports incomes policy industrial inflation inflationary instrument interest rates interest-bearing deposits International Financial Statistics issues J. R. Hicks Keynesian labour loans manufacturing ment monetarism monetarist monetary policy money incomes money stock money supply money-commodity non-bank private sector output overseas percentage period production profits PSBR quantity of money rate of inflation rate of interest reduction relation result rise in prices sterling supply of money Table target time-lag time-lag time-lag tion Treasury Bills unfunded United Kingdom velocity of circulation Walras