Abstract
The Second World War marked many changes. In a broad perspective none is more striking in the economic field than the beginning in 1948 of a long period of unprecedented economic growth for the industrial countries. Although somewhat obscured in its early phase by the effects of the war this strong growth trend emerged clearly in the late forties and was continued through the fifties and sixties, in varying degree for countries and at varying rates over time, but always strong and apparent — a dynamic background to the economic history of the period. Table 5.1 gives some indicators of this growth.
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Notes
See M. M. Postan, An Economic History of Western Europe, 1945–64 (London: Methuen, 1967)
See N. Kaldor, ‘Capital Accumulation and Economic Growth’, in Theory of Capital (International Economic Association, 1961);
R. C. O. Matthews, ‘Some Aspects of Postwar Growth in the British Economy in Relation to Historical Experience’, Manchester Statistical Society (1964).
The case for regarding investment as the prime factor of economic growth is given in Maddison, Economic Growth in the West (London: Allen & Unwin, 1964) pp. 80 and 87.
For a good analysis of Britain’s deteriorating trade position in the fifties and sixties see L. B. Krause, ‘British Trade Performance’, chap, v of Britain’s Economic Prospects (Washington: Brookings Institution, 1968).
See Bertil Ohlin, Interregional and International Trade, rev. ed. (Cambridge, Mass.: Harvard University Press, 1967);
Eli Heckscher, Ekonomtsk Tidskrift, vol. XXI (1919) pp. 497–512.
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© 1980 W. M. Scammell
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Scammell, W.M. (1980). Growth, Trade and Prices in the Industrial Countries. In: The International Economy since 1945. Palgrave, London. https://doi.org/10.1007/978-1-349-16399-1_5
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DOI: https://doi.org/10.1007/978-1-349-16399-1_5
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