Financial Repression

William Allen

Chapter 14 in Monetary Policy and Financial Repression in Britain, 1951–59, 2014, pp 181-193 from Palgrave Macmillan

Abstract: Abstract Labour’s comprehensive electoral victory of 1945 brought into office many people who thought that official controls were a better method of allocating economic resources, both real and financial, than the price mechanism. Gaitskell’s views on the allocation of credit are a case in point (see Chapter 2). But many controls, particularly over non-financial items, became unpopular. Particularly after the change of government in 1951, controls came to be regarded as regrettable necessities rather than as intrinsically desirable, and were justified on pragmatic rather than principled grounds.

Keywords: Monetary Policy; Government Debt; Treasury Bill; Bank Rate; Official Market (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palscp:978-1-137-38382-2_14

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DOI: 10.1057/9781137383822_14

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