David Marquand, 19 September 1985
Years of Recovery: British Economic Policy 1945-51 by Alec Cairncross.
Methuen, 527 pp., £35, April 1985, 0 416 37920 6Show More The Politics of Recession by R.W. Johnson.
Macmillan, 275 pp., £20, January 1985, 0 333 36786 3Show More The Labour Government 1974-79: Political Aims and Economic Reality by Martin Holmes.
Macmillan, 206 pp., £25, May 1985, 0 333 36735 9Show More New Jerusalems: The Labour Party and the Economics of Democratic Socialism by Elizabeth Durbin and Roy Hattersley.
Routledge, 341 pp., £16.95, March 1985, 9780710096500Show More Show More“... pathetically out of his depth as minister. Much the same was true of the convertibility crisis. By May 1947, the Treasury knew that import cuts were needed to halt the dollar drain, and warned accordingly. Again and again, ministers dithered, until, in the end, the crisis forced their hands. After 1947, however, there were no more horror stories of this ...”