Beating inflation key to recovery
From Lord Harris of High Cross
Sir, As an economist who was not invited to sign the petition against Government policy, I read the list of 364 names with special interest. With a few honourable exceptions, the more prominent signatories read like a charge sheet of those responsible for Britain's relative economic decline since the war. Their lack of stomach for persevering against inflation may also have something to do with their complacent enjoyment of indexed pensions. All honour, therefore, to the majority who did not sign.
The most disturbing feature of the catalogue is the wholly unrepresentative preponderance of economists from the once-famed faculty at Cambridge which launched the petition w ith a block vote of 52. As an old Cambridge man, I once jestingly referred to the iron curtain having been, "temporarily rolled down on the Marshallian school". The long list of mostly unknown signatories from Cambridge suggests that readiness to sign this kind of essentially political testament has since certainly been no hindrance to "academic" preferment.
House of Lords