Arguing that there were important elements of continuity in the decisions of the Treasury and the Bank of England, this survey of macroeconomic policy in Britain contains a chronological account of policy actions that covers the most influential writings of economists during this period.
List of tables; List of charts; Preface; 1. Introduction; Part I. Narrative of Events: 2. Prelude: the last years of the health government; 3. The labour government 1974–9; 4. The conservative government 1979–83; 5. Conservative government continued 1983–January 1985; Part II. History Of Ideas: 6. The seventies, developments of Keynesianism; 7. The seventies, the monetarist challenge; 8. The eighties, monetarism in practice; 9. The eighties, alternatives to monetarism; Part III. Britain and the World Economy: 10. The world economy 1974–87; 11. The British economy compared with others; Part IV. The Conduct Of Policy: 12. Introductory note on methods of analysis; 13. The conduct of monetary policy; 14. The conduct of fiscal policy; Part V. The Outcome For Policy Objectives: 15. External balance and the exchange rate; 16. Unemployment; 17. Inflation; 18. Output growth; Part VI. Conclusions: 19. Conclusions; Appendix; Charts of main economic indicators; Bibliographic notes; Index.