Broadberry, Stephen and Crafts, Nicholas (2000) Competition and innovation in 1950’s Britain. Economic History Working Papers, 57/00. Department of Economic History, London School of Economics and Political Science, London, UK.
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We find little support for the Schumpeterian hypothesis of a positive relationship between market power and innovation in 1950’s Britain even though many economists and policymakers accepted it at the time. Pricefixing agreements were very widespread prior to the 1956 Restrictive Practices Act and they seem to have had adverse effects on costs and productivity. Competition policy appears to have been much too lenient but the productivity problems of British industry at this time are best viewed as arising largely from the difficulties of reaping the benefits of innovation rather than from a failure to innovate per se.
|Item Type:||Monograph (Working Paper)|
|Additional Information:||© 2000 The Authors|
|Library of Congress subject classification:||H Social Sciences > HC Economic History and Conditions
D History General and Old World > D History (General) > D839 Post-war History, 1945 on
D History General and Old World > DA Great Britain
|Sets:||Departments > Economic History
Collections > Economists Online
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