Sir Roy Harrod's View of the British Economy

1. In the first place, I must stand in a white sheet for having wrongly given the figure of 3 5 per cent. for the average annual rate of growth of the real Gross Domestic Product between 1948 and 1955, and I accept Professor Paish's 3 1 per cent. (I do not, however, think that, when using national income statistics, it is usually right, in comparing two dates, to accept the official revision of a figure at the second date, if no figure for the first date is included in the revised series. One needs the same classification and degree of sophistication for both dates; one should therefore use the same table, unless the reason for the revision of the figure of later date is known, and known not to affect the earlier figure.)

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