Originally published in1985, Jim Tomlinson charters the route of British macroeconomic policy in the post-war era. This book argues that the objectives of macroeconomic policy have not been constant; that the emphasis has shifted from one item to another over time; and that this uncertainty and inconsistency over objectives goes a long way to explaining why macroeconomics management has not been a startling success.

Part One: The new policy regime 1 Full Employment 2 The balance of payments and the exchange rate 3 Anti-inflation 4 Growth 5 The new regime Part Two: The new regime in decline 6 Full employment 7 The balance of payments and the exchange rate 8 Anti-inflation 9 Growth 10 Monetarism : desperate remedies 11 Summary and conclusion References Index