Growth, Wages, Money

Growth, Wages, Money

Growth, Wages, Money

Growth, Wages, Money

Excerpt

IT IS A GREAT HONOUR TO BE ASKED TO give these lectures. But it is rather alarming to find oneself after more than three years in this familiar room, on the wrong side, so to speak, of the footlights: and I am not sure the Economics Faculty ought not to be impeached for using their resources to dislodge a local mummy from its comfortable shelf instead of for the normal purpose of attracting some outside scholar in the full flood of his creative ability. I wish I could have produced something more worthy of the compliment, and of my rather ambitious title.

It is one of the consolations of being on the shelf, with no obligations to teach or examine or contribute to the drafting of controversial reports, that one can be a bit choosy about the intellectual torments to which one submits oneself; but it is not always possible to end by being as choosy as one sets out to be. That has been my experience these last months. Bearing in mind my commitment to deliver these lectures, I thought I had better try to keep in touch with what was being thought, said and done about monetary policy-- a field in which I had stuck my neck out in the past. So--bearing in mind further that these lectures carry a modest fee, against which perhaps . . .

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