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Major RecessionsBritain and the World 1920-1995$
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Christopher Dow

Print publication date: 2000

Print ISBN-13: 9780199241231

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0199241236.001.0001

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The Facts to be Explained

The Facts to be Explained

(p.13) 2 The Facts to be Explained
Major Recessions

Christopher Dow

Oxford University Press

A summary is given of the chief relevant facts and background information about the UK and the other main economies in the period since 1920, showing what happens to the relation between costs and prices, and hence to profits and real wages, in the course of major recessions. Section 2.1 gives a first conspectus of the whole period covered by the book––1920–95. An analysis of fluctuations must confront the question of how best to separate trend and divergences from trend; this is discussed in Sect. 2.2. Section 2.3 provides a brief account of fluctuations and growth rates in the UK and other main countries. Section 2.4 notes the impact of major recessions of profits and factor income shares.

Keywords:   costs, factor income shares, growth rate, history, prices, profits, recession, trends, UK, wages

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