First published in 1983, this is the second of two volumes on the causes and cure of stagflation - that combination of mass unemployment and rapid inflation that is currently afflicting the mixed economies of the industrially developed world.

First published in 1983, this is the second of two volumes on the causes and cure of stagflation - that combination of mass unemployment and rapid inflation that is currently afflicting the mixed economies of the industrially developed world. The authors deplore the unemployment due to the failure of governments to adopt Keynesian measures for the expansion of economic activity, but recognise that in present conditions such measures would lead to an unacceptable and explosive inflation of money wages and prices. They therefore advocate a dual strategy of financial policies for a steady...