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Growth, De-Regulation and Rent-Seeking in Post-War British Economy

Research output: Contribution to journal › Article › peer-review

Standard Standard

Growth, De-Regulation and Rent-Seeking in Post-War British Economy. / Chakravarty, S.P.; Thomakos, D.D.; Nikolopoulos, K.
In: Applied Economics, Vol. 48, No. 18, 16.11.2015, p. 1719-1729.

Research output: Contribution to journal › Article › peer-review

HarvardHarvard

Chakravarty, SP, Thomakos, DD & Nikolopoulos, K 2015, 'Growth, De-Regulation and Rent-Seeking in Post-War British Economy', Applied Economics, vol. 48, no. 18, pp. 1719-1729. https://doi.org/10.1080/00036846.2015.1105928

APA

Chakravarty, S. P., Thomakos, D. D., & Nikolopoulos, K. (2015). Growth, De-Regulation and Rent-Seeking in Post-War British Economy. Applied Economics, 48(18), 1719-1729. https://doi.org/10.1080/00036846.2015.1105928

CBE

Chakravarty SP, Thomakos DD, Nikolopoulos K. 2015. Growth, De-Regulation and Rent-Seeking in Post-War British Economy. Applied Economics. 48(18):1719-1729. https://doi.org/10.1080/00036846.2015.1105928

MLA

Chakravarty, S.P., D.D. Thomakos and K. Nikolopoulos. "Growth, De-Regulation and Rent-Seeking in Post-War British Economy". Applied Economics. 2015, 48(18). 1719-1729. https://doi.org/10.1080/00036846.2015.1105928

VancouverVancouver

Chakravarty SP, Thomakos DD, Nikolopoulos K. Growth, De-Regulation and Rent-Seeking in Post-War British Economy. Applied Economics. 2015 Nov 16;48(18):1719-1729. doi: 10.1080/00036846.2015.1105928

Author

Chakravarty, S.P. ; Thomakos, D.D. ; Nikolopoulos, K. / Growth, De-Regulation and Rent-Seeking in Post-War British Economy. In: Applied Economics. 2015 ; Vol. 48, No. 18. pp. 1719-1729.

RIS

TY - JOUR

T1 - Growth, De-Regulation and Rent-Seeking in Post-War British Economy

AU - Chakravarty, S.P.

AU - Thomakos, D.D.

AU - Nikolopoulos, K.

PY - 2015/11/16

Y1 - 2015/11/16

N2 - There is a view that the financial sector of the post-war British economy was in need of reform that was postponed to the detriment of growth for 30 years until liberalisation started in full earnest after the election of 1979. There is another side of the story in this comparison. The first three decades of the post war period witnessed a decline in the share of wages accruing to the top percentile of earners. The trend was reversed around 1979, without any commensurate rise in output per person employed. The average growth rate of GDP in the second period was no greater than that in the first period because cyclical fluctuations were deeper. The de-regulation of the financial system allowed for recycling the wealth of the rich to contribute to housing inflation and rent seeking opportunities, creating an illusion of prosperity.

AB - There is a view that the financial sector of the post-war British economy was in need of reform that was postponed to the detriment of growth for 30 years until liberalisation started in full earnest after the election of 1979. There is another side of the story in this comparison. The first three decades of the post war period witnessed a decline in the share of wages accruing to the top percentile of earners. The trend was reversed around 1979, without any commensurate rise in output per person employed. The average growth rate of GDP in the second period was no greater than that in the first period because cyclical fluctuations were deeper. The de-regulation of the financial system allowed for recycling the wealth of the rich to contribute to housing inflation and rent seeking opportunities, creating an illusion of prosperity.

U2 - 10.1080/00036846.2015.1105928

DO - 10.1080/00036846.2015.1105928

M3 - Article

VL - 48

SP - 1719

EP - 1729

JO - Applied Economics

JF - Applied Economics

SN - 0003-6846

IS - 18

ER -