"If we continue to use industrial resources for other purposes – defence, housing, etc. – thus preventing the diversion of resources to export work, the [exchange] rate will continue to fall. ... the basic idea of internal stability of prices and employment, which had dominated economic policy for so long will not be maintainable. It will not be possible to maintain stable internal prices and wages; it will not be possible to avoid unemployment. There will be a continuous process of change and readjustment and much of this will be painful."
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Members of the Parliament of the United KingdomUniversity of Cambridge alumniAcademics from the United KingdomGovernment ministersConservative Party (UK) politicians
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Rab Butler
Richard Austen Butler, Baron Butler of Saffron Walden, KG, CH, DL, PC (9 December 1902 – 8 March 1982), also known as R. A. Butler, was a British Conservative politician. Butler was passed over twice as a potential Prime Minister, but did serve in the other three Great Offices of State (Chancellor of the Exchequer, Home Secretary and Foreign Secretary).
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