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This is the first systematic quantitative account of British economic growth from the thirteenth century to the Industrial Revolution.
Beginning at the time of the revolution in 1688, and ending in the 1950s, this book sets out to establish the main quantitative features of the British economy over as long a period as available statistics permit. Topics include changes in the population structure, industrial structure and more.
In recent years, traditional views of a rapidly growing British economy between 1700 and 1850 have been overturned by convincing new research indicating that British economic growth was, in fact, relatively slow during much of the so-called industrial "revolution". This revisionist work, which is certain to profoundly affect any future scholarship on the subject, is the first to give a fully documented account of the new picture of British economic development that has recently emerged. Bringing together the results of the latest research, Crafts explores how the new growth estimates hold vital implications for our understanding of productivity, living standards, structural change, and international trade in 18th- and 19th-century Britain.
Highlights the interactions between institutions and policy choices, as well as the importance of historical constraints on Britain's relative economic decline.
The OECD Economic Outlook, Volume 2021 Issue 1, highlights the improved prospects for the global economy due to vaccinations and stronger policy support, but also points to uneven progress across countries and key risks and challenges in maintaining and strengthening the recovery.
First published in 1978, Professor O’Brien’s Economic Growth in Britain and France 1780-1914 is an original and pioneering exercise in comparative and quantitative economic history. It finds a controversial place in the debate on the question of French retardation in the 19th century and as a brave and important contribution towards the understanding of economic growth in Western Europe. The author attempts to comprehend and evaluate the economic performance of France through explicit comparisons with Britain, while considering British economic history from a French perspective. Challenging the orthodox view that France lagged behind Britain in economic terms, the book argues that there were two paths of economic growth to the 20th century, with France’s path seen as a more humane and no less efficient transition to industrial society.
The debate over 'Britain in Decline' is one that still rages in the academic, political and public spheres. In this concise study, B. W. E. Alford takes issue with those economists who have a mechanistic approach to the subject. Instead, he examines Britain's economic development since the Second World War within a wider framework of political, social and cultural factors. He discusses topics such as post-war reconstruction, the theory of 'too few producers', the alleged process of de-industrialisation, the role of sterling, business organisation and management, labour relations and the impact of government policy on Britain's economic development. Professor Alford provides a clear introduction to the subject along with a survey of recent literature, yet shows how complex and deep-rooted are the causes of the 'British Disease'.
A historical account of the course and causes of British economic growth from the mid-19th century until 1973, with special emphasis on the unparalleled growth after the Second World War.
The book analyses the failings of the British economy over the last two hundred years. It concludes that the main cause of its relatively poor performance has been inappropriate monetary and exchange rate policies. The damage these have done, especially to British manufacturing, has made the whole economy uncompetitive. Based on this analysis, the book then sets out an economic strategy designed to achieve much faster economic growth and a return to full employment, while containing inflation at acceptably low levels.