An Overview

  • Keith Cuthbertson
Chapter
Part of the Macmillan New Studies in Economics book series

Abstract

Over the past few years most of the Western industrialised countries have experienced macroeconomic problems. Indeed some would claim that these problems are of crisis proportions. In a number of these countries there has been a high rate of inflation accompanied by a slow growth of output and high unemployment and this hitherto unprecedented state of affairs has been dubbed ‘stagflation’. Also over this period there have been large imbalances in the current-account balance-of-payments position of these countries and this has been accompanied by large capital flows across the foreign-exchange markets causing sharp changes in exchange rates.

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Selected Reading

  1. Morris, D. (ed.) (1977) The Economic System in the U.K. (London, Oxford University Press). This is an elementary theoretical and empirical overview of the U.K. economy.Google Scholar
  2. Prest, A. R. and Coppock, D. J. (eds) (1976) The U.K. Economy: A Manual of Applied Economics (London, Weidenfeld & Nicolson). This gives a detailed account of the past behaviour of the U.K. economy.Google Scholar

Copyright information

© Keith Cuthbertson 1979

Authors and Affiliations

  • Keith Cuthbertson
    • 1
  1. 1.Thames PolytechnicUK

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