The Decline of the British Economy

This book attempts to explain the decline of the British economy in terms of structural rigidities in its economic institutions and historic changes in the international economy. It argues that British institutions and historic changes in the international economy. It argues that British institutions were conducive to economic development in a nineteenth century world economy characterized by competitive capitalism, but posed a formidable obstacle to economic development in a twentieth century context of corporate capitalism. The contributors are: B. Elbaum and W. Lazonick (introduction and overview); B. Elbaum (pre-World War I steel); S. Tolliday (post World War I steel); E. Lorenz and F Wilkinson (shipbuilding); W. Lewchuk (automobiles); J. Wrigley (education); D. Mowery (R&D); M. Best and J. Humphries (finance and industry); C. Heim (regional development); and P. Hall (the state). The book presents original research but its coverage is such that it could be used in student courses. Economic historians and industrial economists.