Britain in the World Economy

Britain in the World Economy

Britain in the World Economy

Britain in the World Economy

Excerpt

These lectures were written for oral delivery on March 17-20, 1953, at the University of Virginia. Any English reader, finding much that is over- familiar to him, is invited to remember that the audience was American; and any reader who happens to be an economist is invited to remember that it was largely non-specialist.

Events move rapidly in this field; and in preparing the lectures for print I have not attempted to bring them up to date. In one respect, however, they had to be delivered at a particularly unfortunate moment, since the mass of statistical information which becomes available on and around Budget Day in England was not to hand. I have therefore modified, in the light of later information, the somewhat over-pessimistic figures about private saving which I put before my audience in Lecture I, and have added a statistical note showing the basis of the revised calculations.

I have thought it unnecessary and inexpedient to pepper the text with footnotes, as though it purported to be a serious piece of economic research. I should like, however, to make a general preliminary acknowledgment of the main sources of my pilferings.

In Lecture I, I have built largely on an article on British Economic Policy, 1946-50, by Prof.

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