Sterling in Decline: The Devaluations of 1931, 1949 and 1967

Sterling in Decline takes the devaluations of 1931, 1949 and 1967 as a metaphor for Britain's changing position in the world economy. It traces the decline of the pound sterling from the world's pre-eminent currency, together with the dollar's rise to prominence. It also challenges the conventional wisdom regarding the implications of events in foreign exchange markets, and of British foreign economic policy generally, for the macroeconomic performance of the British economy. This second ed...