Competition and Innovation in 1950s Britain
AbstractWe 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. Price-fixing 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.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Business History.
Volume (Year): 43 (2001)
Issue (Month): 1 ()
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Other versions of this item:
- N0 - Economic History - - General
- B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
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