International Economic Affairs

Former Prime Minister Margaret Thatcher spoke on the future of international monetary policies before the Economic Club of New York during her visit to the United States. Former Prime Minister Thatcher resigned her office in 1990 following a national uproar over the Community Charge or poll tax, which levied funds from every citizen in Great Britain at a flat rate regardless of their wealth or lack thereof. In her remarks before the club, she discussed the trade cycle, which she said was a permanent feature of the international economy. She criticized attempts to alleviate low points in the trade cycle by monetary manipulation, saying such tactics would cause deeper recessions. She criticized the European Economic Community’s plans for unification of currency and monetary policy, saying Great Britain’s Parliament had always handled its monetary policy, and should continue to do so. She went on to discuss the reasons for the current recession, and predicted the U.S. would remain enforce close