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Industrial Fluctuations in the United Kingdom, 1946–52

In: The Business Cycle in the Post-War World

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  • E. A. G. Robinson

    (University of Cambridge)

Abstract

Would it be true to say that the trade cycle has disappeared from the British economy since World War II? In the sense in which we knew the cycle before the war it would undeniably be true to say that it had. One has only to glance at the unemployment figures of the years 1929–37 and those of 1945–52 and the contrast is at once evident (see Table I). There have been slight fluctuations of employment from time to time since 1945 partly for technical reasons, such as shortages of materials or fuel, or because policy has been directed to release workers in one sector to increase the manpower in another, or again at times when antiinflationary policies were more effective. But it would at first sight seem from any statistical presentation that the big swings of employment as we knew them before the war have disappeared.

Suggested Citation

  • E. A. G. Robinson, 1955. "Industrial Fluctuations in the United Kingdom, 1946–52," International Economic Association Series, in: Erik Lundberg (ed.), The Business Cycle in the Post-War World, pages 37-54, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-08437-1_3
    DOI: 10.1007/978-1-349-08437-1_3
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