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Description - Monetary Regimes of the Twentieth Century by Andrew J. C. Britton

Abstract economic theory may be timeless and potentially universal in its application, but macroeconomics has to be seen in its historical context. The nature of the policy regime, the behaviour of the economy and the beliefs of professional economists all interact, and influence each other. This short historical account of monetary regimes since 1900 shows how the role of policy has changed, and how this has related to experience of inflation and the real economy, as well as to changes in political philosophies. The narrative concentrates on developments in America, Europe and Japan from the era of the classical gold standard, via the era of policy intervention and reduced faith in the market to the present 'neo-liberal' regimes. The 'grand narrative' of the century is a journey 'to Utopia and back'. It is argued that no school of macroeconomics is right for all time; different theoretical models may be appropriate, for different periods and regimes.

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Book Details

ISBN: 9780521801690
ISBN-10: 0521801699
Format: Hardback
(228mm x 152mm x 19mm)
Pages: 260
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 4-Jun-2001
Country of Publication: United Kingdom

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Author Biography - Andrew J. C. Britton

Andrew Britton has been a Visiting Professor at the University of Bath since 1998. He was Director of the National Institute of Economic and Social Research between 1982 and 1995, when he left to join the Churches' Enquiry into Unemployment and the Future of Work.

Books By Andrew J. C. Britton

Macroeconomic Policy in Britain 1974-1987 by Andrew J. C. Britton
Paperback, September 1994