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Letting things rip

Wynne Godley, 7 January 1993

Reflections on Monetarism 
by Tim Congdon.
Edward Elgar, 320 pp., £35, November 1992, 1 85278 441 5
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... This book brings together the ‘most important academic papers and journalism’ of Professor Tim Congdon, described in the blurb as ‘one of the City’s most well-known commentators’. Congdon’s provocative thesis is that ‘monetarism’, as adopted by British governments between 1976 and 1985, was a decisive success, but that the gains were lost when Nigel Lawson let things rip, causing a boom that had to go bust ...

Maastricht and All That

Wynne Godley, 8 October 1992

... of its component nations and their power to take independent action on major issues. As Mr Tim Congdon has argued very cogently, the power to issue its own money, to make drafts on its own central bank, is the main thing which defines national independence. If a country gives up or loses this power, it acquires the status of a local authority or ...

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