Ebook: The Awakening: The Economic Crisis and the Way Out

[title-page: "The Awakening: Our Present Crisis and the Way Out"]

'...even in 1945, our real situation was not even dimly understood by Ministers or by their official advisers. For the conditions were such as were bound in every way to reduce the value of the [American] loan and to preclude all possibility of our recovery through the effective control of our own trade policy and through the development of co-operation within the Empire. ....
What even the severest critic of those agreements would not have ventured to predict is the rapidity with which the loan would be exhausted, leaving us in worse plight than if we had never accepted it, and driven, one after another, to repudiate its conditions as, in effect, unfulfillable. It is to that sorry tale, as well as to the concurrent, but fundamentally incompatible American policies pressed forward at Geneva and implied in the Marshall initiative, that I have devoted the subsequent chapters, leaving to the end an outline of the measures necessary to enable us both to avert immediate catastrophe and to restore new life and hope to our enfeebled and war-shattered economy.'


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Full Tags:
Anglo-American Trade Agreement, Atlantic Charter, Attlee, Bevin, Bretton Woods, Canadian and Washington Loans, Churchill, Clayton, Cobden, Corn Laws, Cripps, Customs Unions, Dalton, Empire Customs Union, Empire Migration, Financial Agreements, Franks Report, G.A.T.T., Geneva Draft Report, Geneva Tariff Agreement, Gold Standard, Imperial Preference, IBRD, International Economic Conference, I.T.O., Keynes, Lend-Lease Agreement, Macmillan Report, Marshall Initiative, Morgenthau, Morrison, Most Favoured Nation Clause, National Savings Movement, Ottawa Agreements, P.A.Y.E., Philippines, Population Policy, Roosevelt, Schacht, Silver demonetisation, Sterling Convertibility, T.U.C., Truman, U.N.O., U.S.A., Vinson, Welles, Harold Wilson, World Bank, W.T.O.