Citation

Discussion Paper Details

Please find the details for DP541 in an easy to copy and paste format below:

Full Details   |   Bibliographic Reference

Full Details

Title: Why was Unemployment in Postwar Britain So Low

Author(s): Stephen N Broadberry

Publication Date: May 1991

Keyword(s): Postwar Settlement, Real Wage and Unemployment

Programme Area(s): Human Resources

Abstract: This paper takes a fresh look at the low unemployment in postwar Britain, which is seen as exceptional rather than the norm. During the 1950s and 1960s low unemployment was reconciled with stable inflation through the exercise of wage restraint. Yet the postwar settlement which underpinned this wage restraint also allowed the entrenchment of restrictive practices, which inevitably slowed the growth of productivity and the feasible real wage, thus contributing to Britain's relative economic decline.

For full details and related downloads, please visit: https://cepr.org/active/publications/discussion_papers/dp.php?dpno=541

Bibliographic Reference

Broadberry, S. 1991. 'Why was Unemployment in Postwar Britain So Low'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=541