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British Monetary Policy, 1945-51 Book

British Monetary Policy, 1945-51
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British Monetary Policy, 1945-51, The first majority Labour government in Britain was pledged to maintain full employment, reform the financial system and nationalize major industries. It faced a massive balance-of-payments problem and a persistent threat of inflation. Using records of th, British Monetary Policy, 1945-51
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  • British Monetary Policy, 1945-51
  • Written by author Susan Howson
  • Published by Clarendon Press, 1993/09/01
  • The first majority Labour government in Britain was pledged to maintain full employment, reform the financial system and nationalize major industries. It faced a massive balance-of-payments problem and a persistent threat of inflation. Using records of th
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Abbreviations
List of Tables
Introduction 1
1 Cheap money 18
Monetary theory in the early 1940s 18
Wartime financial policy 26
The continuation of cheap money 43
2 'Socialist' monetary policy 63
The plans of the 1930s 65
How to pay for the war 73
Post-war planning 78
3 Dalton at the Treasury 96
The breathing space 99
Financial reform 110
Cheaper money 121
Reactions and reasons 145
4 The end of cheaper money 153
The balance of payments and the budget 154
The abandonment of cheaper money 166
The impact of cheaper money 176
The failure of cheaper money 190
Appendix: The finance of nationalization 199
5 Monetary policy and devaluation 1948-50 209
The background 211
Jay's campaign 223
Devaluation 238
Money, prices and the exchange rate 1948-51 259
6 The end of cheap money 272
The balance of payments, rearmament and the budget 274
Gaitskell versus Cobbold 283
Full employment and financial policy 298
The revival of monetary policy 307
Conclusions 322
Bibliography 342
Index 355


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British Monetary Policy, 1945-51, The first majority Labour government in Britain was pledged to maintain full employment, reform the financial system and nationalize major industries. It faced a massive balance-of-payments problem and a persistent threat of inflation. Using records of th, British Monetary Policy, 1945-51

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British Monetary Policy, 1945-51, The first majority Labour government in Britain was pledged to maintain full employment, reform the financial system and nationalize major industries. It faced a massive balance-of-payments problem and a persistent threat of inflation. Using records of th, British Monetary Policy, 1945-51

British Monetary Policy, 1945-51

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British Monetary Policy, 1945-51, The first majority Labour government in Britain was pledged to maintain full employment, reform the financial system and nationalize major industries. It faced a massive balance-of-payments problem and a persistent threat of inflation. Using records of th, British Monetary Policy, 1945-51

British Monetary Policy, 1945-51

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