The British Economy Since 1700: A Macroeconomic Perspective

This book provides a comprehensive and rigourous study of the development of the British economy from the early eighteenth century onwards. It surveys and synthesises the prevalent literature on the origins of the growth of the economy and its topical problems, and challenges the conventional view that sees an industrial revolution as the starting point of Britain's fresh economic growth. Statistical studies have to a large extent established the pattern of growth and of the leading economic indicators. The book makes full use of these studies and surveys the main macroeconomic aggregates: wealth and income; investment and the financial system; production and productivity; demographic and economic growth; foreign trade and payments; and regional growth. It looks at the interpretations of the data, the issues raised and examines the major debates.