For all his efforts to doctor Britain's faltering economy with doses of austerity, Prime Minister Harold Wilson has lately managed to look more like a quack dispensing dubious pills. Unemployment climbed to a 27-year peak of 559,000 last month, and that total is generally expected to reach 750,000 by winter. Industrial production has stagnated for nearly a year. Foreign-exchange earnings, the crucial source of support for the British pound, have risen, but at a disappointing rate. Under increasing critical attack both within and without his own Labor Party, Wilson last week called...
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