Problems of a Mature Economy

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

Chapter 27 in Problems of a Mature Economy, 1970, pp 593-597 from Palgrave Macmillan

Abstract: Abstract Whenever an economic problem is solved, new ones arise. Around 1950 there was a widespread consensus that the unemployment of the past must not recur. Economists had shown ways of preventing mass unemployment. Their precepts were applied and this particular problem was solved. Around 1970 there are new problems. The economy has done well, but it could have done better. Moreover other industrial economies did better, and eventually this came to be reflected in the balance of payments. There seemed to be a vicious circle: delayed growth weakened the balance of payments, and measures to improve the balance of payments caused further delays.

Keywords: Industrial Economy; Mature Economy; Widespread Consensus; British Economy; Abundant Factor (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_27

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DOI: 10.1007/978-1-349-15400-5_27

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