Monetarism Under Thatcher: Lessons for the Future

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Edward Elgar, Jan 1, 2001 - Business & Economics - 114 pages
A discussion of the principles of monetary policy in the context of economic and political history, thus seeking to illuminate both monetary theory and monetary policy. It draws on a wide range of sources, making use of the recollections of participants in policy-making during the years of the Thatcher governments. The authors advocate direct control of the monetary base (MO) with interest rates being left to find their market level; and they examine the policy debates under Margaret Thatcher that in the end frustrated this proposal.

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A brief history of monetary policy since Radcliffe
Monetarism and the officials
Monetarism and the politicians

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About the author (2001)

Michael J. Oliver is Associate Professor of Economics at Bates College, Maine, USA.

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