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Inside Thatcher's Monetarism Experiment : The Promise, the Failure, the Legacy / Tim Lankester.
- Format:
- Book
- Author/Creator:
- Lankester, Tim, author.
- Language:
- English
- Subjects (All):
- Monetary policy--Great Britain.
- Monetary policy.
- Physical Description:
- 1 online resource (241 pages)
- Edition:
- First edition.
- Place of Publication:
- Bristol, England : Policy Press, [2024]
- Summary:
- In 1979, Margaret Thatcher's new government pursued a monetarist economic policy in response to double-digit inflation, rising unemployment and flatlining economic growth. Tim Lankester's insider's account offers fascinating insights into one of Britain's most unsuccessful economic episodes and also examines monetarism's legacy today.
- Contents:
- Cover
- Half-title
- Title
- Copyright
- Contents
- Acknowledgements
- Main characters
- 1. Introduction
- Outline of the book
- 2. A view from Number 10
- 3. Keynes and Friedman
- Keynes and the Classics
- The problem of inflation
- Prices and incomes policy
- The quantity theory of money
- Friedman and monetarism
- 4. The monetarists' challenge
- Stagflation and the declining relevance of Keynes
- Monetarist ideas to the fore
- Friedman's critics in the USA
- Friedman's British critics
- The British monetarists
- Keynesian monetarist
- 5. Labour and soft monetarism
- IMF to the rescue
- Monetarist ideas and monetary targets
- The Winter of Discontent
- 6. Mrs Thatcher and hard monetarism
- Preparing for power
- First days in power and core beliefs
- Working with Mrs Thatcher
- Key questions and early steps
- 1979 budget
- 7. Monetarism's high noon
- Medium-term financial strategy
- Further setbacks
- 1981 budget
- 8. Ending the experiment
- 9. Counting the cost
- The cost
- The reasons
- Was the cost inevitable?
- Mrs Thatcher's attitude
- 10. Mrs Thatcher and the trade unions
- Engaging with the trade unions
- Trade union reform
- 11. The quest for an alternative anchor
- Lawson and the Exchange Rate Mechanism
- Joining the ERM
- Inflation targeting
- 12. The monetarists and the critics look back
- The monetarists
- The critics
- 13. The legacy
- Some positives
- The role of fiscal policy
- Modern money theory
- Debt sustainability
- 14. The return to stagflation?
- 15. Epilogue
- Appendix
- Glossary
- Notes
- Index.
- Notes:
- Description based on publisher supplied metadata and other sources.
- Description based on print version record.
- ISBN:
- 9781447371380
- 1447371380
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