Merchandise Trade

F. V. Meyer, D. C. Corner and J. E. S. Parker

Chapter 24 in Problems of a Mature Economy, 1970, pp 451-496 from Palgrave Macmillan

Abstract: Abstract An economy can grow when either more or better factors become available for employment, so that an increase in demand can be met. More factors can become available through an increase in the working population or capital widening. Growth of the working population may have provided a major impetus towards an acceleration of eighteenth- and nineteenth-century British economic growth; but given twentieth-century population trends and prospects, this can no longer be relied upon. Despite a marked increase in female employment, the twentieth-century growth of the economically active population has been at a slow rate, (1) and this is almost certain to continue in the 1970s. (2) The argument of Chapters 22 and 23 was that capital widening is inappropriate to a fully employed economy, as the British economy was in the 1950s and 1960s. Instead, the British economy’s growth depended upon the availability of better factors.

Keywords: Industrial Country; World Trade; Full Employment; High Interest Rate; Export Price (search for similar items in EconPapers)
Date: 1970
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-15400-5_24

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DOI: 10.1007/978-1-349-15400-5_24

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