This book contains a selection of the Wincott lectures, given by eminent economists (including four Nobel laureates). Economists do not always communicate their theories to the general public. But all the contributors to this volume have achieved a perfect balance between practical relevance and sound economic reasoning. For this reason their lectures remain refreshing and fascinating. In addition, with economic discourse becoming more and more mathematically formulated, these lectures are a striking example of how important concepts can be communicated simply. Every one of these advances our understanding of the market economy and how it relates to political decisions.

Foreword; Lord Harris of High Cross - Notes on the Contributors - Introduction; G.E.Wood - The Counter-Revolution in Monetary Theory; M.Friedman - Foreword; Lord Robbins - Wages and Prices in a Mixed Economy; J.E.Meade - Foreword; Sir A.Cairncross - Economic Freedom and Representative Government; F.A.Hayek - Foreword; G.Hutton - Aspects of Post-War Economic Policy; Lord Robbins - Foreword; G.Hutton - The Credibility of Liberal Economics; Sir A.Peacock - Foreword; G.Hutton -Economists and the British Economy; I.Walters - Preface; A.Seldon - The Pleasures and Pains of Modern Capitalism; G.J.Stigler - Foreword; G.Hutton - The Limits of International Co-Operation; D.Lal -Foreword; J.B.Wood - Do Currency Boards have a Future?; A.J.Schwarz - Foreword; G.E.Wood - Free Trade, 'Fairness' and the New Protectionism; J.Bhagwati - Foreword; Lord Harris of High Cross - Index