This is a new edition of Sterling in Decline with a new introduction by Barry Eichengreen. The book traces the decline of sterling from the world\'s pre-eminent currency alongside the dollar\'s rise to prominence. There are parallels to be drawn with the euro\'s emergence as a full-fledged competitor to the dollar for international currency status....

In this fully revised and updated second edition, Sir Alec Cairncross provides a lucid overview and analysis of British economic policy and performance from 1945 to the present....