Criticisms, Complications and Conclusions

Abstract

This final chapter first considers criticisms that some might wish to make of proposals along the lines of those put forward in earlier chapters. It is pointed out that the present proposals are consistent with the use of prices and incomes policies (so far as such policies may be feasible), but that no prices and incomes policy will be likely to succeed unless it is complemented by due attention to the appropriate mix of macroeconomic measures. Some of the principal political obstacles to making proper use of the mix to stop stagflation are outlined, and some concluding observations are made on certain general issues.