Crisis '75 ...?

20 per cent adjustment balance of payments balance-of-payments borrowing Britain British economy budget Cambridge capital cause changes College consumer consumption cost domestic earnings economists effect emphasise employees Essays excessive exchange rate expansion exports external deficit factors fall finance fiscal policies foreign full employment growth higher imports incomes policy increase inflationary investment labour less London ment million monetarists monetary and fiscal monetary policy money supply monopoly National North Sea oil Nuffield College oil price oil-producing countries OPEC output Oxford Political Economy politicians post-war present pressure price controls price of oil problem production Professor of Economics public expenditure RALPH HARRIS rate of inflation rate of interest real incomes recession reduced relative rise Samuel Brittan sector Social Contract sterling stock appreciation taxation trade unions unemployment University University of Cambridge University of London wage claims wage negotiation