B. W. E. Alford's British Economic Performance, 1945–1975 PDF

By B. W. E. Alford

ISBN-10: 0333396235

ISBN-13: 9780333396230

ISBN-10: 1349081639

ISBN-13: 9781349081639

The controversy over "Britain in decline" nonetheless rages within the educational, political and public spheres. during this concise undergraduate booklet, B.W.E. Alford examines Britain's monetary improvement inside of a framework of political, social and cultural components, together with issues comparable to the alleged technique of deindustrialization, the position of sterling, exertions kinfolk and the effect of presidency coverage. Professor Alford presents a transparent and crucial advent to the topic, but exhibits how advanced and deep-rooted are the motives of the "British Disease."

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On the industrial front, the translation of Cripps to the Treasury spelt the demise of regional policy as a major means of planning [Brown, 1972]. Moreover, the pressure for regional aid was reduced by the effect of the export drive which stimulated even older industrial areas facing long-term decline and gave them the appearance of recovery. Quite separately, the monopolies legislation of 1948, with its general if vague aim of ensuring a 'fair' degree of competition outside the nationalised industries, implied acceptance of the operation of private enterprise in ways which were substantially inconsistent with the extension of industrial planning.

The tide turned against the Labour government in its marginal defeat in 1951 because of what was seen to be its still strong commitment to state regulation and control and because of the new-found attractiveness of the free-market ideology offered by the Conservatives. In truth the development of the new synthesis of the 'mixed economy' owed as much to socialist as to Tory intellectuals [Crosland, 1956]. The fact that important elements in the Labour Party were thinking in these terms marked a major shift from the ideals expressed in the party's 1945 election manifesto, Let Us Face The Fmure: '[we shall] plan from the ground up, giving an appropriate place to constructive enterprise and private endeavour in the national plan'.

Once again, post-war performance was significantly above the level for the interwar years, but in international terms it was substantially below par. Interpretation of these data is far from straightforward, however. Whilst there is wide agreement that investment is a necessary condition of economic growth and that within fairly wide margins higher levels of performance require higher levels of investment, the direction of this relationship cannot be conclusively demonstrated; it may well be the case that the two occur together.

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British Economic Performance, 1945–1975 by B. W. E. Alford

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