Robert V. Roosa
Essay
Jan
1975
Almost exactly a year ago, the members of the Organization of Petroleum Exporting Countries (OPEC) raised the price of their oil sharply. With subsequent adjustments, the average price of Middle East oil stood in late 1974 at about $10 per barrel, roughly four times the mid-1973 price.
Essay
Apr
1968
The devaluation of the pound sterling on November 18, 1967, and the announcement on January 16, 1968, of a firm timetable for Britain's withdrawal east of Suez have been widely lamented as marking the "end of an era." Along with such spectacular domestic reversals as the imposition of charges for medical care and the promise of still heavier taxation, the events of the past several months may at least justify the clichés, so often repeated, that Britain is at a "turning point" or has reached a "crossroads." But does all of this necessarily mean continuing deterioration or indicate that Britain's economic base can no longer support her as a major power? Or can those of us looking on from outside reasonably hope that what Labor Ministers have called the "second Battle of Britain,"1 will result in new patterns of economic expansion?
Essay
Oct
1963
Since the return of convertibility among the currencies of most major industrial countries at the beginning of 1959, a crisis affecting at least one major currency has threatened each year; the U.S. balance of payments has been in continuous large deficit; and the stability of the convertible gold-dollar and sterling system has been increasingly questioned. With the transition to convertibility proving to be so turbulent, doubts have arisen over the adequacy of liquidity arrangements for the future and calls for a great reform of the international monetary system have quite understandably been intensified.
