 British Economic Policy, 1960-74: A General AppraisalAnonymous National Institute Economic Review, 1977, vol. 80, 38-57 Abstract: It is generally accepted that the performance of the British economy in the last fifteen years has been relatively poor, as measured by the criteria normally used for assessing economic success or failure. This proposition has been widely documented, and it is not the purpose of this article to review the evidence at length. The attempts to accelerate the British growth rate failed. The objective in the early sixties was the modest one of getting the figure up from about 3 per cent a year to about 4 per cent a year. In the event, the rise in real national product from 1960 to 1973 stayed at 2.9 per cent a year. Britain's share in world trade in manufactured goods fell in every year from 1960 to 1973, with only one exception (1971). At the beginning of the period, Britain's share in this trade stood at 162 per cent; by 1973, the figure was down to 9 1/2 per cent. These failures in economic growth and in foreign trade do not appear to have had much compensation elsewhere. Consumer prices rose, if anything, rather faster than the average for other industrial countries; and Britain's record on unemployment was no better than average. Date: 1977 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:cup:nierev:v:80:y:1977:i::p:38-57_4 Access Statistics for this article More articles in National Institute Economic Review from National Institute of Economic and Social Research Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK. Contact information at EDIRC. |
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