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The Resource Goodbye, Great Britain : the 1976 IMF crisis, Kathleen Burk & Alec Cairncross

Goodbye, Great Britain : the 1976 IMF crisis, Kathleen Burk & Alec Cairncross

Label
Goodbye, Great Britain : the 1976 IMF crisis
Title
Goodbye, Great Britain
Title remainder
the 1976 IMF crisis
Statement of responsibility
Kathleen Burk & Alec Cairncross
Creator
Contributor
Subject
Language
eng
Summary
On 4th March 1976 the value of the British pound against the US dollar began to slide in international markets and the Prime Minister James Callaghan turned to the International Monetary Fund for help. This study looks at the crisis and reveals its historical roots and contemporary context.
Cataloging source
DLC
http://library.link/vocab/creatorName
Burk, Kathleen
Dewey number
332.4941
Illustrations
illustrations
Index
index present
LC call number
HG939.5
LC item number
.B87 1992
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/relatedWorkOrContributorDate
1911-1998
http://library.link/vocab/relatedWorkOrContributorName
Cairncross, Alec
http://library.link/vocab/subjectName
  • Monetary policy
  • Economics
  • Monetary economics
  • United Kingdom, Great Britain
  • c 1970 to c 1979
  • Economic history
  • Society & culture: general
  • International economics
  • Great Britain
  • Great Britain
  • International Monetary Fund
Summary expansion
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. Refused aid by the London and New York markets, the Labour Government under Prime Minister James Callaghan was forced to turn for help to the IMF-a highly unusual move for a developed Western economy. Fearing that the economic crisis would drive Britain into a left-wing siege economy which would endanger NATO and the EEC, the United States and Germany used the IMF loan as a means to force Britain to make major domestic policy changes; when the IMF mission arrived in London in November 1976, it was announced that the price for the loan included deep cuts in domestic spending. Burk and Cairncross uncover the maneuvers of the Labour Government to evade IMF conditions. They also examine underlying economic factors, the political agenda, the rise of monetarist ideas, and the Keynesian response. Juxtaposing narrative with analysis, they provide surprising answers to critical questions and reveal how the breakdown of the post-war consensus on the macroeconomic management paved the way for the triumph of Thatcherism
Label
Goodbye, Great Britain : the 1976 IMF crisis, Kathleen Burk & Alec Cairncross
Instantiates
Publication
Bibliography note
Includes bibliographical references (p. 254-259) and index
Contents
Part 1 The politcs: what's past is prologue; the gathering storm - March-September 1976; October-December 1976; getting rid of the sterling balances. Part 2 The economics: the movement of opinion; the loss of control - the balance of payments; the loss of control - the balance of payments - a. fiscal policy, b. monetary policy, c. incomes policy; comparisons and conclusions. Appendix: the letter of intent
Control code
BDZ0000185541
Dimensions
25 cm.
Extent
xix, 268 p.
Isbn
9780300057287
Lccn
91042929
Other physical details
ill.
System control number
(DLC)91042929
Label
Goodbye, Great Britain : the 1976 IMF crisis, Kathleen Burk & Alec Cairncross
Publication
Bibliography note
Includes bibliographical references (p. 254-259) and index
Contents
Part 1 The politcs: what's past is prologue; the gathering storm - March-September 1976; October-December 1976; getting rid of the sterling balances. Part 2 The economics: the movement of opinion; the loss of control - the balance of payments; the loss of control - the balance of payments - a. fiscal policy, b. monetary policy, c. incomes policy; comparisons and conclusions. Appendix: the letter of intent
Control code
BDZ0000185541
Dimensions
25 cm.
Extent
xix, 268 p.
Isbn
9780300057287
Lccn
91042929
Other physical details
ill.
System control number
(DLC)91042929

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      51.4771154 -0.2025884
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