Incomes and money (Record no. 1236)

MARC details
000 -LEADER
fixed length control field 02467nam a2200181Ia 4500
005 - DATE AND TIME OF LATEST TRANSACTION
control field 20220720142955.0
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 200202s9999 xx 000 0 und d
082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER
Classification number 339.5 HAW
100 ## - MAIN ENTRY--PERSONAL NAME
Personal name Hawtrey, Ralph
245 #0 - TITLE STATEMENT
Title Incomes and money
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Place of publication, distribution, etc. London
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Name of publisher, distributor, etc. Longmans
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Date of publication, distribution, etc. 1967
300 ## - PHYSICAL DESCRIPTION
Extent 260 p.
520 ## - SUMMARY, ETC.
Summary, etc. This book is primarily a criticism of British monetary policy since 1945. along with an application of the criticism to questions of future policy. The aims of policy were indicated to the Radcliffe Committee in<br/><br/>1957 in a paper on Monetary Policy and the Control of Economic Conditions (Treasury Memorandum, No. 6, sec. 10): 'the primary object of policy has been to combine a high and stable level of employ ment with a satisfactory state of the balance of payments'. When Sir Robert Hall was giving oral evidence on behalf of the Treasury (17 Oct. 1957), Lord Radcliffe asked (Qn 1360), 'Where does sound money as an objective stand?' The reply was that there may well be a conflict between the objective of high employment and the objective of sound money', a dilemma which the Treasury did not claim to have solved (1363).<br/><br/>Sound money here meant price stability, and Sir Robert admitted<br/><br/>that 'there has been a practically continuous rise in the price level'. The<br/><br/>rise in prices of manufactures since 1949 had in fact been 40 per cent. The wage level had risen 70 per cent. Government pronouncements ever since 1944 had repeatedly insisted that wages ought not to rise more than in proportion to productivity. This formula, meaning in effect a stable price level of home production, embodies the incomes policy which is now professed by all parties.<br/><br/>But it has never been enforced through monetary policy. It has only<br/><br/>been enjoined by exhortation and persuasion. Incomes policy and monetary policy cannot be separated. Monetary policy includes all those measures by which the flow of money can be accelerated or retarded, and it is by them that the money value of a given structure of incomes is determined. If monetary policy is directed by some other criterion than the desired incomes policy, the incomes policy gives way to the other criterion. In particular, if monetary policy is directed to maintaining the money unit at a prescribed exchange parity, the level of incomes will adapt itself to this parity and not to the desired policy.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Great Britain monetary policy
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Koha item type Books
Source of classification or shelving scheme Dewey Decimal Classification
Holdings
Withdrawn status Lost status Damaged status Not for loan Home library Current library Date acquired Source of acquisition Total checkouts Full call number Barcode Date last seen Price effective from Koha item type
  Not Missing Not Damaged   Gandhi Smriti Library Gandhi Smriti Library 2020-02-02 MSR   339.5 HAW 1401 2020-02-02 2020-02-02 Books

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