This book is comprised of seven chapters and begins with a background on the British economy until 1964, with emphasis on the economic problems faced by the country, including rising prices. The four basic objectives of economic policy to which both Labor and Conservative parties subscribe-full employment, a reasonably rapid growth rate, stable prices, and a satisfactory balance of payments-are discussed. The next chapter focuses on the Labor Party's 1964 Election Manifesto and how the economy fared from October 1964 to March 1966. Subsequent chapters evaluate the economic policies of the Labour government during the period April 1966-June 1970, including devaluation and incomes policy; economic policies adopted by the Conservative government from June 1970 to February 1974; and the country's economic situation since February 1974. The final chapter considers four factors-structural, technical, managerial, and political-that were responsible for much of what went wrong with the British economy since 1964.
This monograph will be of interest to economists, political scientists, politicians, and economic policymakers.
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