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Policy Networks in British Government$
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David Marsh and R. A. W. Rhodes

Print publication date: 1992

Print ISBN-13: 9780198278528

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198278528.001.0001

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Labour and International Finance, 1964–1967

Labour and International Finance, 1964–1967

Chapter:
(p.200) 9 Labour and International Finance, 1964–1967
Source:
Policy Networks in British Government
Author(s):

Rob Stones

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198278528.003.0009

This chapter deals with the non-devaluation policy of pound sterling by the Labour Government which ruled between 1964 and 1967. The non-devaluation of the pound is typically presented as a key to the understanding of the failure of the Wilson Government's plan for economic growth and why many of the promises of advances in social justice were not kept. The chapter also illustrates the ability of the policy networks approach to enhance our understanding of a domestic political decision which had a crucial international dimension. With regards to the policy of the non-devaluation of the pound sterling, the policy networks approach is useful in its emphasis on the disaggregation of the policy field into its various component parts.

Keywords:   non-devaluation policy, Labour Government, Wilson Government, political decision, policy networks

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