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This 1996 edition of Britain's Economic Problem opens with a substantial new chapter, 'Bacon and Eltis after 20 Years', in which the authors assess the impact of the policies of successive Conservative governments to bring British public expenditure under control. They also develop their theory and apply it to Sweden which has experienced the greatest increase in public expenditure of any European economy. This edition includes a complete reprint of the 1978 second edition of Britain's Economic Problem: Too Few Producers which Harry G. Johnson described as 'interesting, both for its explanation of 'the British disease' and for the economic-theoretical foundations on which its analysis is based'. The original book provided a new explanation of the decline of the British economy which showed how a growing shift of Britain's resources from the production of goods and services which can be marketed at home and overseas to the provision of unmarketed public services simultaneously:- reduced the rate of growth and weakened the balance of payments - reduced investment and the economy's ability to provide productive jobs - fuelled the accelerating inflation and obstructive trade union behaviour from which Britain suffered.
This book is a sequal to Britain's Economic Prospects, the report issued in 1968 by the Brookings Institution and universally accepted as the most thorough and comprehensive study of the British Economy to have ever appeared. Two years later, just after the British General election, six fo the American economists who prepared the Brookings Report met with a number of other leading economists from Britain and the United States, at a weekend conference at Ditchley Park, to review the findings of the report. Papers submitted to the conference by four of the British Economists (R.C.C. Matthews, G.D.N. Worswick, E.H. Phelps Brown and M.V. Posner) covered the same ground as the Brookings Report - the role of demand management, trade and balance-of-payments problems, labour policies, and industrial policies. The conference also had before it a fifth paper, on fiscal policy and stabilization, which took issue with some of the views expressed in the Brookings report. These papers form the core of this book, which also contains an account of the conference discussions and concluding reflections by its Chairman, Sir Alec Cairncross, formerly Chief Economic Adviser to H.M. Government. Britain's Economic Prospects Reconsidered is neither a detailed critique of the Brookings Report nor a rejoinder to it, but rather an attempt to reassess British performance and policies in the light of experience since devaluation. Its central concern is the question of why economic growth in Britain since the war has been slower than in other countries. This book was first published in 1971.
In May 2010 the incoming UK Coalition Treasury Secretary was greeted by a light-hearted note from his predecessor, stating 'there is no money.' This message was relayed more seriously to the country that indeed 'we have no money' - a warning of the difficulties to come. A prime challenge to be faced is how to reduce public spending in relation to national income, while achieving a balance between a public sector that provides services that people need and also supports the functioning of a private sector that can finance a generous welfare state. Warwick Lightfoot uses his experience in government and economics to analyse the background to the current situation and sets out the potential for reform in the public sector. He shows that a large public sector can yield significant social and economic benefits, ultimately a wealthier economy with higher living standards and an economy better placed to meet the challenges of an older community in a more competitive world. "This book is a timely reminder of how little the UK's problems have to do with individual bank failures, recession and the business cycle. Warwick Lightfoot provides a clear and balanced account of the last few decades' dilemmas, controversies and policy choices; and argues convincingly that we should revisit the analysts and analyses of the 1970s as a guide to future action." Alison Wolf, Sir Roy Griffiths Professor of Public Sector Management, King's College London "All main party politicians are signed up to Mr Lightfoot's direction of travel; they should look to this book to understand why it might be a good idea to cut public spending." John Redwood MP, Chairman of the Conservative Economic Affairs Committee "A very timely book with a wide perspective and good argument." Professor Peter Sinclair, University of Birmingham "The historical causes and possible consequences of Britain's large public sector are the focus of Sorry We Have No Money. The arguments made by Warwick Lightfoot are provocative and well worth reading." Dr Graham Brownlow, Queen's University Belfast
Tawney's Agrarian Problem in the Sixteenth Century (1912).
This is the first systematic quantitative account of British economic growth from the thirteenth century to the Industrial Revolution.
This volume examines attempted changes to industrial relations in Britain during 1948-1990, designed to promote institutional reforms of management and trade unions. Specific focus is given to the Donovan Commission and other trade union reforms, and incomes policies to connect pay more tightly with productivity. International initiatives of the AACP, BPC, and EPA are also included.