Industrial policy in Britain, 1945-1951 : economic planning, nationalisation, and the Labour governments

This book is a detailed archive-based study that examines the economic planning of the Attlee governments in Britain in the period 1945-1951. In it the author discusses the workings of economic planning and its effects on business decision making. The book traces the origins of the nationalization program and asks how the decisions to form these industries into monopolies were taken. Finally, Martin Chick asks what impact, if any, economic planning had on the productivity performance of the UK economy. This is a detailed archive-based study of the economic planning of the Attlee governments, in which the author seeks to analyse the interaction between the decisions of central planners and the micro-economic effects of these decisions. Throughout the book, Martin Chick pays particular attention to the level, pattern and quality of fixed capital investment. At the same time, there is a continuous concern with the struggle between politicians, economists and industrialists over the mix of pricing mechanisms and administrative orders which were to be used in this period. This struggle permeated all discussions over matters such as the organisation of nationalised industries, the monopoly structure of nationalised industries, the allocation of resources and the promotion of higher productivity. The author also asks what impact, if any, economic planning had on the productivity performance of the UK economy. Cover 1 Title 7 Copyright 8 Dedication 9 Contents 11 List of Tables 12 Preface 13 Acknowledgements 16 List of Abbreviations 18 1 Economic planning 19 2 New Jerusalem? 34 3 Allocating resources 59 4 Nationalisation 90 5 Monopoly pricing 121 6 Appraising investment 155 7 Planning rationalisation 184 8 Return to the market? 215 Index 234 Martin Chick. Includes Bibliographical References And Index. A lot can happen during a three-week holiday in Cornwall.