Wealth: how do we compare?
Article Abstract:
UK shadow chancellor Gordon Brown claimed that the UK's fall in the Labour party's world prosperity league table shows the UK's need for a higher level of investment, but this is a rather simplistic view. According to the table, the UK has fallen to 18th place in 1994 vs 13th place in 1979. While boosting the investment level would give the UK a higher place in the league table, it would not necessarily mean that the UK would be more prosperous. The league table compares per capita GDP, and is therefore unsuitable for ranking nations with different levels of capital intensity.
Publication Name: The Director
Subject: Business, international
ISSN: 0012-3242
Year: 1996
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Sterling: deliberately devalued?
Article Abstract:
Some observers claim that the UK has deliberately devalued its currency in order to boost its competitiveness. However, it is in fact very difficult to assess why a devaluation has been made, and a devaluation could simply be an effort to meet new economic conditions. Indeed, the exchange rate of sterling still seems to be less competitive than it was in the second half of the 1970s, and there are no indications that the UK government has deliberately followed a policy of devaluing the currency.
Publication Name: The Director
Subject: Business, international
ISSN: 0012-3242
Year: 1996
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Growth: bucking the trend
Article Abstract:
The 'trend growth rate' of the UK economy, which is usually regarded as the rate of growth at which unemployment is stable, is an important determining factor in economic policy. It is generally assessed as being equal to the rate of growth of the labour force plus the rate of growth of labour productivity. Some observers feel that the government's current estimate of trend growth is too high, as the labour force predictions on which it is based are too generous.
Publication Name: The Director
Subject: Business, international
ISSN: 0012-3242
Year: 1996
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