Adjusting from war to peace in 1940s Britain
Item Type:Journal Article
Citation:Crafts, N. F. R.. 'Adjusting from war to peace in 1940s Britain'. - Economic & Social Review, Vol. 25, No. 1, October, 1993, pp. 1-20, Dublin: Economic & Social Research Institute
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Most assessments of British economic policy in the transition from war to peace after 1945 praise the strategy adopted. This paper draws on recent growth theory and analysis of eastern European liberalisation to argue that British policy was seriously flawed. In particular, a heavy price was paid for the social contract and delayed liberalisation in the 1945-55 period in terms of subsequent growth and productivity performance. Policy choices, notably with regard to taxation and industrial relations, were, however, heavily constrained by political circumstances.
Author: Crafts, N. F. R.
Publisher:Economic & Social Research Institute
Type of material:Journal Article
Availability:Full text available