Economic Research Council

ERC merged with the Economic Reform Club in 1959, which had been founded by a number of prominent people who had become concerned at the poverty around them in the midst of plenty and began to question Britain's use of economic and monetary policies that had failed the nation in the past and were liable to go on perpetuating the sequence of boom, slump, boom of the 1920s. ERC's main objects are to (1) promote education in the science of economics, in particular monetary practice; (2) study presentations on monetary and economic subjects; (3) explore the fields of monetary and economic thought; (4) take steps to increase the interest of the public in the objects of the council by making known the results of study and research through publishing reports and other documents; and (5) encourage establishment by other countries of bodies having aims similar to those of the council and collaborate with such bodies to the public advantage.