Devaluation and the Dangers Ahead

Lord Robbins
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Lord Robbins: The London School of Economics

Chapter 4 in Against Inflation, 1979, pp 17-19 from Palgrave Macmillan

Abstract: Abstract My Lords, first, I should like to align myself very strongly with those who hold that this is no occasion for rejoicing. We can surely all agree that we have suffered a great setback. We have incurred a deep humiliation. It may be that one has some sense of relief that the claims of one’s creditors are reduced to 17s. 2d. in the pound, but a man must be very insensitive morally who does not feel ashamed that their confidence has been thus misplaced and to that extent we have let them down.

Keywords: Trade Union; Civic Virtue; Suez Canal; Income Policy; Export Incentive (search for similar items in EconPapers)
Date: 1979
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DOI: 10.1007/978-1-349-04478-8_4

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