The Retreat from Monetarism
J.R. Shackleton, 6 February 1986
“... the performance of the American economy continues to make those on this side of the Atlantic turn green with envy. Small wonder, then, that the Chancellor has back-pedalled. In his Mansion House speech this autumn he effectively abandoned the sterling M3 target which had been the central indicator of monetary policy since the Thatcher Administration came to ... ”