This is a systematic and impartial assessment of the character, problems and performance of the British economy. The 13th edition has been comprehensively revised to combine a wealth of statistical data with lucid explanations, at a level suitable for first-to-third-year undergraduates. Key issues covered in this edition include unemployment, privatization and de-regulation, monetary policy, the European Monetary System, inflation and the labour market, world debt problems, banking supervision, productivity trends, incomes and earnings, training, education and industrial policy, and the pattern and control of government expenditure.