Political and Economic Causes of the Economic Slowdown

R C O Matthews

Scottish Journal of Political Economy, 1993, vol. 40, issue 2, 129-42

Abstract: This paper, which is a revised version of the second annual Cairnross lecture, examines the economic and political elements in the economic slow-down that took place in both the OECD countries, and the U.S.S.R. In describing these developments, use is made of Schumpeter's conceptual framework of cycle-phases. It is argued that while both political and economic reasons lay behind the primary wave of boom and recession which took place in both the West and the U.S.S.R. in the post-war period, while political reasons played a large part in making the secondary wave of depression and recovery more severe in the U.S.S.R. than in the West. Copyright 1993 by Scottish Economic Society.

Date: 1993
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Scottish Journal of Political Economy is currently edited by Tim Barmby, Andrew Hughes-Hallett and Campbell Leith

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