More talk to help Europe's money

Article Abstract:

John Major, the British prime minister and the contender for the Conservative Party leadership, John Redwood, took opposite stands on the issue of common European currency. John Major supports a common monetary policy though he maintains the details, especially about a controversial European Monetary Institute that will function without any political intervention are still being determined. Redwood represents the view of many members of Parliament that Britain is already too involved with the European Union. The main issue in contention is whether national fiscal policy should be guided by a larger European fiscal framework or not.

Euro (Currency), European Union, European Monetary System, Redwood, John

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Tale of two dissimilar economies

Article Abstract:

President Bill Clinton's State of the Union address of Feb 1993 addressed the tough economic problems facing the US and contained suggestions for tax increases and spending cuts that may prove unpopular. The economic difficulties facing Britain are even more severe than those facing the US and they may continue even if the widespread recession lifts. Prime Minister John Major should take Clinton's lead in seriously addressing these problems. Skill-creation through education should take precedence over wealth-creation in British economic policy.

United Kingdom, Economic aspects, United States economic conditions

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The plight of the dismal science

Article Abstract:

Some academic economists are criticizing President Bill Clinton for overlooking them in selecting his Council of Economic Advisors. However, Clinton's choices reflect a justifiable desire to avoid reliance on the dubious economic models with which the academicians are often preoccupied. The lack of supportive data makes these models a poor basis for policy. Clinton's paramount aim was probably to escape being bogged down by too much discussion and too little action.

Officials and employees, Beliefs, opinions and attitudes, Economists, United States. Council of Economic Advisers

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