The monetarist policies used to defeat inflation caused large-scale unemployment.

With the crash of 1987, questioning of the prevailing monetarist policy began.

Such monetarist policies meant that employment and interest rates were left to find their own levels in the market place.

Initially the pound rocketed, moving above US$2.40, as interest rates rose in response to the monetarist policy of targeting money supply.

But two years later, with the economy in disarray, he changed direction and adopted orthodox monetarist policies that eventually restored the economy to health.

But when his program proved disastrous, he began applying orthodox monetarist policies that revived economic growth.

It is implicated in euro creation, deregulation and accepted current monetarist policies.

But we have from the outset warned of the economic and social risks of a monetarist policy.

The Government applied monetarist policies to reduce inflation, and reduced public spending.

Margaret Thatcher became Conservative leader in 1975 and successfully introduced a number of monetarist policies.