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Britain in the Industrial World

  • John C. Carrington
  • George T. Edwards
Chapter
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Abstract

Britain’s economic performance during the post-war period has been poor in comparison with that of other developed countries. There are many illustrations of this. An economic survey of the United Kingdom, published by the OECD in 1962, showed that Britain’s growth during the 1950s was lower than that of any other member country.1 A Brookings Institution study of Britain, published in 1968, remarked in the introduction that the casual observer often treats Britain as burntout, by comparison with her North Atlantic neighbours.2 More recently, the Hudson Institute, Europe has produced a popular book indicating at some length the extent of the relative economic decline of the United Kingdom.3 Virtually every recent book about the British economy touches upon Britain’s decline at some stage, while many newspaper articles also discuss Britain’s waning economic power. Perhaps the one point of general agreement among economists is the reality of Britain’s relative economic decline.

Keywords

Money Supply Industrial World Foreign Competition Industrial Investment Develop Market Economy 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

  1. 1.
    OECD, Economic Survey of the United Kingdom, 1962.Google Scholar
  2. 2.
    Richard E. Caves et al., Britain’s Economic Prospects, Allen & Unwin, 1968.Google Scholar
  3. 3.
    The Hudson Institute, Europe, The United Kingdom in 1980, Associated Business Programmes Ltd., 1974.Google Scholar
  4. 4.
    See, for example, R. C. O. Matthews, Some Aspects of Post-War Growth in the British Economy in Relation to Historical Experience, in Derek H. Aldcroft and Peter Fearon (eds.), Economic Growth in Twentieth Century Britain, Macmillan, 1969.Google Scholar
  5. 9.
    See, for example, Nicholas Kaldor, ‘The New Monetarism’, p. 261 et seq. of Money and Banking, ed. A. A. Walters, Penguin Modern Economics Readings, 1973. Friedman’s comments on Kaldor’s article follows immediately on p. 279 in that book.Google Scholar
  6. 10.
    W. A. Eltis, ‘Economic Growth and the British Balance of Payments’ in D. H. Aldcroft and P. Fearon (eds.), op. cit. (This article was first published in December 1967 in the District Bank Review.)Google Scholar
  7. 19.
    R. Bacon and W. A. Eltis, Britain’s Economic Problem: Too Few Producers, Macmillan, 1976.Google Scholar
  8. 24.
    David Smith, ‘Public Consumption and Economic Performance’, National Westminster Bank Review, Nov. 1975.Google Scholar

Copyright information

© J. C. Carrington and G. T. Edwards 1979

Authors and Affiliations

  • John C. Carrington
  • George T. Edwards

There are no affiliations available

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