Abstract
The fundamental ways in which extra-rapid growth of non-market expenditure cause difficulties for an economy will be explained in this chapter. The full implications of the argument, which applies to Britain particularly sharply, will then be set out.
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Notes
Cf. Joan Robinson, ‘Ricardo existed at a particular point when English history was going round a corner so sharply that the progressive and the reactionary positions changed places in a generation.’ Collected Economic Papers, vol. IV, Blackwell, 1973, p. 267.
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© 1996 Robert Bacon and Walter Eltis
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Bacon, R., Eltis, W. (1996). The Fundamental Problem. In: Britain’s Economic Problem Revisited. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-24613-7_4
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DOI: https://doi.org/10.1007/978-1-349-24613-7_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-64771-4
Online ISBN: 978-1-349-24613-7
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