HIST111 Lecture Notes - Lecture 22: Early American Currency, Profumo Affair, Money Supply
31 Mar 2016
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Profumo affair: one woman having simultaneous affairs with the head of soviet spy system and american defence minister challenges of the 1960s. Keynesian growth policies unrealistic if de cit kept up over a long period of time cut back on welfare policies and government spending. 3-day work week introduced labour unions want bene ts after 30 years of rule adherance. European economic community (eec) regulate and improve economic trade among its members. 1: uk, denmark, ireland join eec in 1973, uk always wants to be the exception, so france is wary of uk membership. 1981 - greece, 1986 - spain and portugal join eec. 2. all former dictator countries join the eec signi cantly less developed 2nd world countries. Eec cannot solve the oil crisis/opec >fuel costs increase signi cantly: new governments: thatcher in britain 1979-1990, middle class woman who proposes monetarism, challenging keynes, keynes: economic duty of government during wartime. Thatcher applies monetarism to 1984 coal miner strike.
