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The Economic Situation: Annual Review

Anonymous

National Institute Economic Review, 1972, vol. 59, 4-21

Abstract: The chief domestic policy problems of 1971 were the same as those of the previous year: inflation and unemployment. The comfortable balance of payments surplus realised in the previous year was substantially improved, thanks partly to the sluggish condition of domestic output and demand; and the dollar crisis signalled by President Nixon's measures of 15 August, though provoking some awkward problems for monetary management in the interim before the new settlement, seems to have had little immediate impact on the domestic economy.

Date: 1972
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