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North Sea Oil and Manufacturing Output — Comment

In: Monetarism in the United Kingdom

Author

Listed:
  • Eduard J. Bomhoff

Abstract

John Kay claims that a significant part of the recent decline in British manufacturing output was the inevitable result of North Sea oil. In his view, the discovery of North Sea oil was bad news for British industry. He bases his argument on simple manipulation of input-output tables, but before we are carried away by the stark numbers in his Tables 33–35, we should pause for a moment to realise that this is a very strange message indeed.

Suggested Citation

  • Eduard J. Bomhoff, 1984. "North Sea Oil and Manufacturing Output — Comment," Palgrave Macmillan Books, in: Brian Griffiths & Geoffrey E. Wood (ed.), Monetarism in the United Kingdom, pages 200-204, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-06284-3_13
    DOI: 10.1007/978-1-349-06284-3_13
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