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1951-64 (Economy) (Butskellism (Different macroeconomic theories on how to…
1951-64 (Economy)
Butskellism
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Not much change in the post-war consensus because govt had same issues of inflation and unemployment
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1960 changes
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Due to the poor investments, Brown was forced to devalue the pound
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Not successful at all because of the poor investments which would devalue the £ and because of this, this would impact the balance of payments
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Inflation rate
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Overall this a success for the government because the inflation rate has been kept relativy low and this means that the price levels have been stable which won't affect the standards of living significantly
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