Abstract
It is always a pleasure to return to London, where I spent fifteen happy months associated with the International Monetary Research Programme in 1975–6. Those were eventful days in Britain’s postwar economic history — in a manner that is relevant to the subject of this lecture. In 1975, the inflation rate in the United Kingdom hit an historic peak of 25 per cent.
The views expressed in this paper are those of the author and do not represent the views of the International Monetary Fund. This lecture was delivered at City University, London on 10 November 1994.
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© 1996 Forrest Capie and Geoffrey E. Wood
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Mussa, M. (1996). The Triumph of Paper Credit. In: Capie, F., Wood, G.E. (eds) Monetary Economics in the 1990s. Studies in Banking and International Finance. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-25204-6_9
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DOI: https://doi.org/10.1007/978-1-349-25204-6_9
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