GREAT BRITAIN: Economic Dictator

To Sir Stafford Cripps's bony hands, Prime Minister Attlee this week entrusted Britain's economic fate. His official title was Minister of Economic Affairs. In reality, Sir Stafford had become Britain's economic dictator.

Under the old setup, Herbert Morrison was the nearest thing to an economic boss. He presided over the committee to coordinate domestic economic policy. Foreign economic policy was handled by a separate committee. Morrison failed at his job, in part because of ill health, in part because he had too many other things to do, in part because the setup itself left him in the splendid isolation of...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!