Pt. I. Britain. 1. Public Expenditure and the British Economy / Walter Eltis and Robert Bacon. 2. The Key to Higher British Living Standards. 3. Closing the British Competitiveness Gap / Walter Eltis and David Higham. 4. The Political Economy of British Foreign Direct Investment -- Pt. II. Europe. 5. Europe's Unemployment Crisis. 6. The IT Revolution and European Employment. 7. The Lessons for Britain and for Europe from the Success of German Counter-inflation Policy -- Pt. III. EMU. 8. The Creation and Destruction of EMU. 9. Further Considerations of EMU: It will Create Instability and Destroy Employment -- Pt. IV. Historical Lessons. 10. John Locke and the Establishment of a Sound Currency. 11. Debt, Deficits and Default. 12. France's Free Market Reforms in 1774-6 and Russia's in the 1990s: The Immediate Relevance of the Abbe de Condillac's Analysis