Britain's economy : the roots of stagnation
Author(s)
Bibliographic Information
Britain's economy : the roots of stagnation
Cambridge University Press, 1985
Available at / 57 libraries
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Research Institute for Economics & Business Administration (RIEB) Library , Kobe University図書
330.942-135081000072730
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Doshisha University Library (Imadegawa)
332.833;J40;8512101330/50;8512162348/91;8620005500/50;8620190617
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Note
Bibliography: p. 149-150
Includes index
Description and Table of Contents
Description
It has long been recognised that Britain has declined relatively to other countries, although there are differences of view both on the beginning of the decline and its causes. The author pinpoints two causes: first, a technological inferiority which has resulted in the country's exporting goods of poorer quality and importing goods of higher quality; secondly, the tendency for an upward pressure on incomes, from a society of political equals where each individual has expectations of a level of income reasonably comparable with others. The claims of different groups are easily accommodated in a semi-monopolistic industrial structure and are passed on in higher prices. Keynes recognised the latter problem of cost-push; but his intellectual revolution was not accompanied by a change of institutions, which continued to act in accordance with an earlier tradition. The present Government has reached a false diagnosis in ascribing the country's problems to too much money. It has therefore worsened the situation and weakened such hopes as there were of improvement.
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