ABSTRACT
Treating persons of another race un-
equally, especially with regard to wages
and employment opportunities.
See also: discrimination
Radcliffe Report (E5, G2)
A Royal Commission report, published in
1959, on the working of the UK monetary
system. It promulgated the view that
money is only one ASSET in the spectrum
of LIQUIDITY and that, as its VELOCITY OF
CIRCULATION is unstable, the control of it is
incidental to interest rate policy. Although
opposed to the control of the money
supply, given the sophistication of the
post-war UK financial system, from day
to day it recommended that interest rates
should be used rather than credit controls
as instruments of MONETARY POLICY: this
was difficult to achieve given the need for
stable interest rates to maintain an orderly
gilts market. It also suggested changes in
monetary statistics.
