Description

In this 1964 study, Dr Wells analyses, on a commodity and country market basis, the decline in Britain's share of world trade in some detail, setting out in tabular form the export performance of some twenty-five groups of commodities in thirty export markets. After offering some general explanations for the decline in the British share of world trade, the author considers the performance of some of Britain's rivals in the export field. He suggests that policies in these countries were more conducive to successful export performance than those adopted in the UK. In particular, he argues that the restrictive policies followed by the British government in the 1950s hindered exports. In the second part of the study, Dr Wells applies some of these ideas to selected British industries. In conclusion, he argues for greater emphasis upon growth policies, and suggests alternatives to the 'stop-go' economic policies of the 1950s.