Threat of Economic Breakdown
Political Ills Arising from Economic Problems
Britain has experienced such a succession of shocks since the end of World War II that it is difficult even for Anglophiles to grasp the full measure of the current crisis. Britain's long-established democratic and parliamentary institutions may ultimately be undermined if economic problems grow more critical and further erode public confidence in the ability of the political system to deal with them. The people are being subjected to the worst inflation in their history, to record postwar unemployment levels, and to falling production and declining business investment.
Britons see this combination of problems coming to a head early next year. The Chancellor of the Exchequer, Denis Healy, has said 1976 will be the country's most critical ...