EconPapers    
Economics at your fingertips  
 

The Postwar British Productivity Failure

Nicholas Crafts ()

CAGE Online Working Paper Series from Competitive Advantage in the Global Economy (CAGE)

Abstract: British productivity growth disappointed during the early postwar period. This reflected inadequate investment in equipment and skills but also entailed inefficient use of inputs. Weak management, dysfunctional industrial relations, and badly-designed economic policy were all implicated. The policy framework was partly the result of seeking low unemployment through wage restraint by appeasement of organized labour. A key aspect was weak competition. This exacerbated corporategovernance and industrial-relations problems in the British 'variety of capitalism' which sustained low effort bargains and managerial incompetence. Other varieties of capitalism were better placed to achieve fast growth but were infeasible for Britain given its history.

Keywords: competition; productivity; relative economic decline; varieties of capitalism JEL Classification: N14; O62; P170 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eff, nep-his and nep-pke
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://warwick.ac.uk/fac/soc/economics/research/c ... /350-2017_crafts.pdf

Related works:
Working Paper: The Postwar British Productivity Failure (2017) Downloads
Working Paper: The Postwar British Productivity Failure (2017) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cge:wacage:350

Access Statistics for this paper

More papers in CAGE Online Working Paper Series from Competitive Advantage in the Global Economy (CAGE) Contact information at EDIRC.
Bibliographic data for series maintained by Jane Snape ().

 
Page updated 2019-02-13
Handle: RePEc:cge:wacage:350