Conclusion: the Effectiveness of the U.K. Capital Market
Assessments of the effectiveness of any part of the economic mechanism of the United Kingdom tend these days to be related to the disappointing post-war growth record of the U.K. economy in comparison with those of many other industrial nations. Whether the object of study is labour relations, monopoly and mergers, or the capital market, an important issue in the mind of the investigator is: to what extent are any imperfections in the operating mechanism responsible for the poor performance of the economy? There are of course various ways of measuring the success of an economy, but if measured in terms of growth of real gross national product per annum, the United Kingdom’s recent performance can be compared (see Table 6.1).
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