Titlebook: Understanding the UK Economy; Peter Curwen Book 1992Latest edition Macmillan Publishers Limited 1992 economic policy.labor market.macroeco

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Macroeconomic Policy,decades. In setting this discussion at the end of the book, rather than at the beginning as is commonly the case in other texts, the problem of introducing many matters as yet unfamiliar to some readers, such as the exchange rate, is avoided.

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Industry and Policy,, ultimately, the firm level. The other extreme takes a laissez-faire approach leaving everything to market forces. In the UK, these alternative views about industrial policy have been reflected in continuing controversy between the major political parties.

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The Macroeconomy: 1,ce have an entire chapter given over to their analysis. Others, however, require less detailed treatment, and it is our primary purpose in this and the subsequent chapters to bring them together at the earliest possible stage in the overall discussion. Whilst this necessarily means that these chapte

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The Macroeconomy: 2, much the largest element of national income. However, the term ‘personal’ is somewhat ambiguous in that it refers not merely to individuals but to unincorporated businesses, private non-profit-making bodies and life assurance and pension funds. The latter three elements are largely excluded in data

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The Financial System,sh to . for various reasons (the ultimate borrowers) and arrange a mutually agreeable price for the transfer of funds between them. However, in a sophisticated world such transfers are beset with difficulties. The lenders and borrowers may be geographically dispersed; the amounts which lenders wish

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External Transactions,n an ‘open’ economy, both importing and exporting on a massive scale. Superficially this may simply be seen to reflect the difficulties which any nation the size of the UK must inevitably face in trying to be self-sufficient across the whole range of goods and services, but it is important to note b

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External Relations,division of material. Essentially, there seemed to be advantages in assembling together most of the material which impinges upon the role of the UK as a member of the EC (see .) and Chapter 7 is broadly given over to this topic. This means that the issues pertaining to exchange rate relationships wi