Labour's management of the national economy 1945-51

The Labour Government 1945–51 played a crucial part in setting the pattern of post-war British economic policy. This article surveys the record of that government. It deals with both the macroeconomic and industrial policy aspects of policy. On the first it argues that the policies were successful in achieving a rough ‘balance’ by 1950, especially on the vital balance of payments front. On the second aspect the record is less clear, but the broad thrust of the argument is that the politics of the government inhibited it from making an ‘all out’ attack on the problems of industrial structure and managerial incompetence which lay at the heart of Britain’s poor productivity record

Argument (complex analysis · Balance (ability · Balance of payments · Economic policy · Economics · Economy · Government (linguistics · Macroeconomics · Payment · Political economy · Political science · Politics · Productivity · Political and Economic history of UK and US · Finance · Law

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