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Major Recessions – Britain and the World 1920-1995 - Oxford Scholarship Online
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Major Recessions: Britain and the World 1920-1995

Christopher Dow


In the twentieth century, there have been five major recessions: two in the interwar period, and three more starting in 1973, 1979, and 1989. This book focuses on events in the UK, but sets them in their international context and makes frequent comparisons with other countries. Major recessions happened at a similar time in all major countries, and the lessons are general. Three main conclusions are reached: (1) major recessions reflect abrupt failings off in demand, not supply; (2) these are due to identifiable demand shocks and to swings in consumer and business confidence that amplify the d ... More

Keywords: boom, business confidence, busts, case studies, consumer confidence, demand, demand shock, fiscal policy, history, monetary policy, recession, shock, supply, UK

Bibliographic Information

Print publication date: 2000 Print ISBN-13: 9780199241231
Published to Oxford Scholarship Online: November 2003 DOI:10.1093/0199241236.001.0001


Affiliations are at time of print publication.

Christopher Dow, author
National Institute of Economic and Social Research