Growth and Productivity

Bryan Gould, John Mills and Shaun Stewart

Chapter 1 in Monetarism or Prosperity?, 1981, pp 1-25 from Palgrave Macmillan

Abstract: Abstract The decline of the British economy, and with it, of British influence in the world, is perhaps a century old, but has been gathering pace over the last decade or two. It has been marked by a massive fall in the British share of world trade in manufactures, while Britain’s rate of economic growth has been only about half that of other industrialised countries. The 30 per cent share of world trade in manufactures which Britain enjoyed at the turn of the century, after dipping to 22 per cent just before the Second World War and recovering to 25 per cent in 1950, has fallen almost continuously since then to its present level of 8 percent- 9 per cent. Even that figure is misleadingly favourable, since it owes much to the reduction in tariffs on UK exports to the EEC and is more than offset by the rapid rise in our imports from the same area.

Keywords: World Trade; Real Wage; Living Standard; National Income; International Competitiveness (search for similar items in EconPapers)
Date: 1981
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-16510-0_1

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DOI: 10.1007/978-1-349-16510-0_1

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