Tackling Britain’s False Economy: Unemployment, Inflation, Slow Growth
The book analyses the failings of the British economy over the last two hundred years. It concludes that the main cause of its relatively poor performance has been inappropriate monetary and exchange rate policies. The damage these have done, especially to British manufacturing, has made the whole economy uncompetitive. Based on this analysis, the book then sets out an economic strategy designed to achieve much faster economic growth and a return to full employment, while containing inflation at acceptably low levels.
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achieved annum balance of payments better Bretton Woods system Britain British economy caused changes compared competitive costs countries currency decades deflation demand depreciation Deutsche Mark devaluation domestic economic growth economic performance economic policy economy grow effect European Union evidence exports factors fell figures finance France Germany gold growth rate high levels higher huge impact important improve income industry inevitably inflation rate inflationary interest rates investment labour force large numbers Lawson boom less levels of unemployment lower Maastricht criteria major manufacturing output monetarism monetarist monetary policy money supply NAIRU Napoleonic Wars Nigel Lawson North Sea oil overvalued parity particularly period political position price level problems productivity profitability public sector rate of inflation reason reduce relatively result rise rose share of world standard of living sterling substantial supply side tariffs world average world trade World War II