Britain's Productivity Gap in the 1930s: Some Neglected Factors
Year: 1992
Type: article
Abstract: This article proposes a reinterpretation of the failure of interwar British productivity levels to match those of the United States. We argue that key elements in poor British productivity performance included inadequate human capital, a bargaining environment that allowed workers to maintain restrictive practices, and collusive agreements that limited the exit of inefficient firms. We suggest that weaknesses in the structure of British firms pointed out by Chandler and his followers have been overemphasized and that more attention should be given to the role of the market environment in determining the conduct of business.
Source: The Journal of Economic History
Authors: S. N. Broadberry, N. F. R. Crafts
Institution: University of Warwick
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2124124605