Reluctance to Adjust and Economic Nationalism

Richard Blackhurst

Chapter 7 in The New Economic Nationalism, 1980, pp 119-136 from Palgrave Macmillan

Abstract: Abstract It does not require great insight to recognise that we live in a constantly changing world. Demographic developments, technological innovations and a variety of other factors constantly create pressure for changes in patterns of production and trade. Moreover, the fact that the timing and intensity of these developments vary among countries is itself an independent source of pressure for change. An obvious corollary is that an economy’s prosperity is crucially dependent on its capacity to adjust its pattern of production and trade in response to these pressures for change. Smooth and continuous adjustment allows a country to use its labour, capital and land efficiently and stimulates economic growth. Lack of adjustment, in contrast, breeds cumulative inefficiency and reduces the country’s material well-being.

Keywords: Industrial Country; Average Annual Rate; International Order; National Goal; Business Investment (search for similar items in EconPapers)
Date: 1980
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-04527-3_8

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DOI: 10.1007/978-1-349-04527-3_8

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