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Author: M. Harmon
Publisher: Springer
ISBN: 0230376258
Category : Political Science
Languages : en
Pages : 283
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Book Description
The British Labour Government and the 1976 IMF Crisis examines the external pressures vis-à -vis British economic policy that culminated in the 1976 UK-IMF crisis. The postwar development of IMF loan conditionality is reviewed as well as the growing incompatibility after 1974 between the Government's domestic political imperatives and Britain's external economic constraints that led to the crisis. More generally, the case study demonstrates the coercive and constraining nature of 'international cooperation' in contemporary international relations.
Author: M. Harmon
Publisher: Springer
ISBN: 0230376258
Category : Political Science
Languages : en
Pages : 283
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Book Description
The British Labour Government and the 1976 IMF Crisis examines the external pressures vis-à -vis British economic policy that culminated in the 1976 UK-IMF crisis. The postwar development of IMF loan conditionality is reviewed as well as the growing incompatibility after 1974 between the Government's domestic political imperatives and Britain's external economic constraints that led to the crisis. More generally, the case study demonstrates the coercive and constraining nature of 'international cooperation' in contemporary international relations.
Author: Kathleen Burk
Publisher: Yale University Press
ISBN: 9780300057287
Category : Business & Economics
Languages : en
Pages : 302
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Book Description
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.
Author: Mark D. Harmon
Publisher: Palgrave Macmillan
ISBN: 9780312176242
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
This book examines the external pressures vis-a-vis British economic policy that culminated in the 1976 UK-IMF crisis. The postwar development of IMF loan conditionality, is reviewed as well as the growing incompatibility after 1974 between the government's domestic and political imperatives and Britain's external economic constraints that led to the crisis. More generally, the case study demonstrates the coercive and constraining nature of international cooperation in contemporary international relations.
Author: Kevin Hickson
Publisher: Bloomsbury Publishing
ISBN: 0857713450
Category : Political Science
Languages : en
Pages : 271
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Book Description
The 1976 IMF crisis was a seminal event in modern British political and economic history. The seeds of the crisis were sown by the huge OPEC oil price shocks of 1972-3 leading to the potential meltdown of Britain's already weakened economy and seemingly confirming Britain's headlong decline as a major political and economic power. The government was seen as going 'cap in hand' to the International Monetary Fund (IMF) to head off disaster - an image which became a long-lasting political icon. Kevin Hickson has mined vital original source material, including interviews with leading players, to probe government economic thought and practice. He questions much received wisdom, especially that the crisis caused a basic shift to monetarist orthodoxy and right-wing economic liberalism - commonly known as 'Thatcherism' - and embraced by successive governments including New Labour.
Author: Edmund Dell
Publisher: Oxford University Press, USA
ISBN:
Category : Business & Economics
Languages : en
Pages : 330
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Book Description
This book offers a penetrating insider account of the policy issues involved in managing Britain's economy from 1974 to the crisis of 1976. Throughout these years the author served as Deputy to the Chancellor of the Exchequer, and then Secretary of State. The book contains entirely new primary material--much of it based on the diaries Dell kept at the time--and covers years which were pivotal in post-war history in general, and for Labor in particular.
Author: Robert Alexander Brady
Publisher:
ISBN:
Category : Government ownership
Languages : en
Pages : 758
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Book Description
Author: Douglas Wass
Publisher: Oxford University Press
ISBN: 0199534748
Category : Business & Economics
Languages : en
Pages : 401
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Book Description
Written by the former Permanent Secretary to HM Treasury, Sir Douglas Wass, Decline to Fall traces the unusual events of the 1976 IMF crisis which saw the UK government accept a massive loan from the IMF. Using a wealth of documentation, Sir Douglas questions the inevitability of the crisis and the measures taken to resolve it.
Author: Richard Roberts
Publisher:
ISBN: 9780992934996
Category : Great Britain
Languages : en
Pages : 140
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Book Description
Author: Johnathan Shepherd
Publisher: Manchester University Press
ISBN: 9780719086144
Category : History
Languages : en
Pages : 272
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Book Description
Britain's second Labour government 1929-31: a reappraisal is a timely collection of essays on Labour’s second period in office beset by the international financial crisis of 1929-1931. Contributions from leading historians and younger academics provide fresh insights into a range of topics: the 1929 general election, Labour’s economic policy, consumerism, agricultural questions, the Parliamentary Labour Party’s role and Tory reaction to the 1929-1931 Labor government. Particular attention is also given to relations with the Soviet Union, socialism after 1931, the disaffiliation of the Independent Labour Party, and myths surrounding "1931" in Labor history. This important reassessment offers new and, at times, more positive views of Ramsay MacDonald’s hapless administration during a major turning point in twentieth-century British history. The Second Labour Government:A Reappraisal makes available new scholarship that will appeal to students and teachers of British political and social history. It is essential reading for sixth forms and university courses.
Author: Jeffrey M. Chwieroth
Publisher: Cambridge University Press
ISBN: 1107153743
Category : Business & Economics
Languages : en
Pages : 597
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Book Description
Shows how the politics of banking crises has been transformed by the growing 'great expectations' among middle class voters that governments should protect their wealth.
