… Mr. Callaghan showed himself much concerned about the high level of unemployment. He said: “What is the cause? Quite simply and unequivocably, it is caused by paying ourselves more than the value of what we produce. There are no scapegoats. This is as true under democratic socialism as it is under capitalism or communism. It is an absolute fact of life which neither the left nor the right can alter.”
KeywordsExchange Rate Budget Deficit Full Employment Female Employment Democratic Socialism
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