In this speech, Ian Plenderleith, Executive Director and member of the Monetary Policy Committee, reviews the prospects for the UK economy, identifying three main areas of uncertainty. The first is the economic slowdown in the United States. The second is the extent of supply-side improvements...

The article discusses the economic difficulties from which the industrialized nations have been suffering for the past years giving special regard to the controversy as to what concept of economic policy should be adopted in order to overcome the present problems.