Forging Ahead, Falling Behind and Fighting Back by Nicholas C... - 9781108424400

Forging Ahead, Falling Behind and Fighting BackBritish Economic Growth from the Industrial Revolution to the Financial Crisis\nAuthor(s): Nicholas Crafts\nFormat: Hardback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9781108424400, 978-1108424400\nSynopsis\nTo what extent has the British economy declined compared to its competitors and what are the underlying reasons for this decline? Nicholas Crafts, one of the world's foremost economic historians, tackles these questions in a major new account of Britain's long-run economic performance. He argues that history matters in interpreting current economic performance, because the present is always conditioned by what went before. Bringing together ideas from economic growth theory and varieties of capitalism to endogenous growth and cliometrics, he reveals the microeconomic foundations of Britain's economic performance in terms of the impact of institutional arrangements and policy.