In this authoritative and gripping book--the first full account of the 1976 International Monetary Fund crisis--Kathleen Burk and Alec Cairncross peel back the surface of the most searing economic crisis of postwar Britain to reveal its historical roots and contemporary context. During the spring of 1976, the plummeting value of the British pound against the U.S. dollar triggered a traumatic economic and political crisis. International confidence in the pound collapsed; an article in the Wall Street Journal, headlined "Good-bye, Great Britain," urged investors to get out of sterling....

From the perspective of the 1990s, the 1960s seem an economic golden age. National income was growing even faster than in the 1950s; unemployment remained around 2% of the labour force and inflation was at 4% for most of the decade. The decade marked the peak of the long boom that began at the end of the Second World War and was to continue until the oil crisis of 1973. Prosperity was linked with social change in many forms, including the relaxations in the law that contributed to the arrival of the permissive society, the founding of many new universities and the first attempts to join the...

This collection, by an economist who participated in many of the events described, sketches the more important economic developments from the end of the Second World War to the early 1980s. In so doing, it brings together a series of papers which were produced by Sir Alec Cairncross during this period. The topics covered include: economic development in the immediate post-war period, including some long neglected issues, such as the role of economists in the wartime government of Britain; sterling crises and devaluation during the 1960s and 1970s; the wider view and long-term issues involved,...

In this fully revised and updated second edition, Sir Alec Cairncross provides a lucid overview and analysis of British economic policy and performance from 1945 to the present. The author takes a chronological approach, introducing the events of the period with an account of changing ideas on economic policy and performance. He concludes with a survey of major developments over the period.

This is a new edition of Sterling in Decline with a new introduction by Barry Eichengreen. The book traces the decline of sterling from the world's pre-eminent currency alongside the dollar's rise to prominence. There are parallels to be drawn with the euro's emergence as a full-fledged competitor to the dollar for international currency status. The new introduction will bring sterling's story up to date and draw out the implications for the dollar and the euro.

Lord Roberthall was economic adviser to a succession of Labour and Conservative governments from 1947 to 1961. During that time, he served under eight Chancellors and exercised more influence on economic policy than perhaps any other official. Fortunately - though it was contrary to Civil Service rules - he kept a diary in which he documented and reflected on day-to-day events. This first volume, published in 1989, deals with the years between 1947 and 1953, in which Robert Hall acted as Director of the Economic Section and was faced with a variety of lingering uncertainties. This is a highly...

Lord Roberthall was economic adviser to a succession of Labour and Conservative governments from 1947 to 1961. During that time, he served under eight Chancellors and exercised more influence on economic policy than perhaps any other official. Fortunately - though it was contrary to Civil Service rules - he kept a diary in which he documented and reflected on day-to-day events. This second volume, published in 1991, covers the years between 1954 and 1961, after Robert Hall's appointment as Economic Adviser to HM Government. The book includes details of conferences and negotiations in...