AS A GuEssiNG-CONTEST variant on the Establish - ment Game, I
can recommend a study of the two voices of the Radcliffe Report. The first, which I suspect was the voice of Lord Radcliffe himself, aided and abetted by the two professional economists, debunks our monetary policy, and reduces the monetary managers to their proper significance—or insignificance. The second, which I suspect was that of the Establishment repro- Sented by the two bankers, Sir Oliver Franks and Lord Harcourt, probably abetted by the twO trade unionists, was the voice of indecision and restraint, reluctant to pass judgment upon the use of monetary measures. The effect is to pro' duce the impression that the Report is evasive and tepid. Still, it is a mine of information, and at least it comes down always on the side Of common sense.
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