Attlee [Government], xxi Bank Rate, xxi, 3, 4, 13, 24
Beveridge, Lord, xxiv
[ 1952, 4
April 1955, 4
Autumn 1955, 4
Butler, Lord, 4
Chicago School, methodology, 30
CCC (Competition and Credit Control), 102
consequences of, 104-7
Conservative Government, 1951, 3
Cripps, Sir Stafford, 18
Cumulative and circular causation, 66, 67
Dalton, Sir Hugh, 3
Dollar convertability, ix
Economic management, objective of, 39-41
Economic policy-making an 'art', 40
Economic strategy,
alternative, 62-4
role of industrial protection in, 68
Excess capacity, 65-6
Exchange rate,
role of, 111-12
floating, 108
and European Monetary System, 112
and MLR, 110
Export-led growth, 39-40, 107, 107n Fisher, Irving, 21
Friedman, Milton, xxii
correlation between money supply and national income, 18, 19, 21, 26-9, 33-6
helicopter, 28
lags in monetary transmission mechanism, 22-5
monetary experience in various countries, 27 ff., 33-4
stable demand for money function, 22, 25
General Theory, Lord Keynes, xxi, 18
Gold Standard, xx, xxi, 3
Great Depression, 3
[Depression since 1979/80, causes, 32
Hahn, Frank, 30, 31
Harrod, Sir Roy, 2
Hawtrey, Sir Ralph, 7
Hayek, Friedrich, xxiv
Hicks, Sir John, IS/LM model, 23
Incomes Policy,
for full employment, 18
permanent, 61
and budget deficits, 54
cost-push vs. demand-pull, 45
hyper-inflation, 61
and income-distribution, 100
necessity to control, 41-2
obstacles to reduction, 42
and PSBR, 99
and wages, 59
Keynes, Lord, xxiv
ideas on,
effective demand, 20
and labour market, 20
liquidity preference, xvii, 21, 26
monetary policy, xx
monetary theory, 21
quantity theory of money, 20
supply of money, 73, 74
Keynesian principles of economic management, weaknesses, 17, 18
Labour Government (1945), its Keynesian principles, 3
Marshall, Alfred, 19
Mises, Ludwig von, xxiv
Austrian, xiii


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The Scourge of Monetarism


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