The Growth of the British Economy 1918-1968

The book discusses the factors governing the growth of the British economy since the First World War, examining why it exceeded predictions and why it has expanded less quickly than expected. It combines historical and statistical evidence with economic theory and is the product of a collaboration between an economist and a historian.

Format: Paperback / softback
Length: 184 pages
Publication date: 05 November 2023
Publisher: Taylor & Francis Ltd

Originally published in 1973, this comprehensive work aimed to delve into the intricate factors influencing the growth of the British economy since the aftermath of the First World War. Its primary objective was to provide an explanation or establish the foundation for understanding the fluctuations in aggregate production and productivity during this period. In pursuit of this goal, the authors addressed two distinct yet interconnected questions: why did Britain surpass the predictions of economic theorists, who, until at least the Second World War, had anticipated a slowdown in growth across mature industrial economies? Additionally, why has the economy, particularly since 1950, experienced slower growth than expected by many professional economists and political leaders?

To address these inquiries, the authors embarked on a comprehensive examination of various factors contributing to economic growth. They explored the shifting trends in effective economic demand, both domestically and internationally, scrutinizing the interplay between supply and demand dynamics. Additionally, they examined the availability of labor and capital resources, analyzing their impact on economic expansion. Furthermore, they delved into the role of management and the state in fostering growth, examining their strategies and policies that influenced economic outcomes.

The authors' approach was characterized by a balanced blend of historical and statistical evidence, complemented by relevant economic theory. Their objective was to present a comprehensive and accessible account that would appeal to a broad audience, including students and scholars alike. To achieve this, they employed clear and concise language, ensuring that the complex concepts and data were presented in a manner that was easy to understand and engage with.

The book emerged as a testament to the fruitful collaboration between an economist and a historian, both with extensive experience in teaching students. Their combined expertise in economics and history allowed them to bring a unique perspective to the study, combining the qualities of apt and informative use of evidence, wide-ranging theoretical discussion, and clarity of exposition. By integrating their respective fields, the authors created a work that not only sheds light on the past but also offers valuable insights into the dynamics of economic growth and development.

In conclusion, this seminal work, originally published in 1973, has remained a valuable resource for scholars and researchers seeking to understand the complex factors that have shaped the growth of the British economy since the First World War. Through its comprehensive analysis and thoughtful exploration, it provides a rich tapestry of information that contributes to our understanding of economic history and offers valuable insights into the challenges and opportunities that lie ahead.

Weight: 350g
Dimension: 216 x 138 (mm)
ISBN-13: 9781032129655