Some Aspects of Index-Linking: Introduction

Extract

In this Review we publish four signed articles on the same general subject: index-linking. The articles originated in discussions which took place in the Institute during the three-day week. For many years the Economic Review has taken the view that inflation could not be brought under control without some kind of prices and incomes policy, and it supported both the efforts made by the Labour government between 1965 and 1969 and the measures introduced by the Conservative government in the autumn of 1972. Some members of the Institute staff argued that the Review had not sufficiently considered the alternative of trying to ‘live with’ inflation, in particular by the introduction of ‘index-linking’ or ‘indexation’.