Advocacy of Reflation Absurd with Prices Rising at 20 per cent per annum

Lord Robbins
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Lord Robbins: The London School of Economics

Chapter 16 in Against Inflation, 1979, pp 78-83 from Palgrave Macmillan

Abstract: Abstract My Lords, the Motion of the noble Lord, Lord Carrington, raises essentially controversial issues. It is a matter of congratulation for your Lordships’ House that these controversial issues have so far been dealt with in the spirit of mutual toleration and sweet reasonableness which characterises our debates and which in my opinion is a clinching argument for this House’s perpetuation. I think it true to say that all those who have spoken so far have in greater or less degree agreed upon one point—that the situation with which we are confronted is grave. Perhaps the term ‘grave’ is strong for one or two of the speeches to which we have listened, but I imagine in the hearts of most of us at this moment there is a degree of anxiety concerning the future of this country, at any rate in the next two or three years, probably greater than has existed at any time since the war. Reference has been made in the course of observations to the various crises which have occupied our attention from time to time in the last 25 years. Those crises were ‘chicken-feed’ compared to the problems which confront us at the present day.

Keywords: Cash Flow; Income Policy; Mutual Toleration; Monetary Measure; Floating Rate (search for similar items in EconPapers)
Date: 1979
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DOI: 10.1007/978-1-349-04478-8_16

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