This paper discusses instruments and operating procedures of the conduct of monetary policy in the major industrial countries. The exchange rate mechanism of the European Monetary System (EMS) provides clear evidence of the role of exchange rates in influencing monetary policy; the commitment of...

When lorry drivers in Northampton slapped stickers on their cabs declaring ‘No truck with the Chilean Junta!’ they were doing more than threatening to boycott. They were asserting their own identity as proud unionists and proud internationalists. But what did trade unionists really know of...