“During the 1960s, and again in the 1970s, growth in manufacturing productivity in the United Kingdom was the lowest of all the seven major industrial countries in the world. During the 1980s, our annual rate of growth of output per head in manufacturing has been the highest of all the seven major industrial countries.”

—  Nigel Lawson

Speech http://hansard.millbanksystems.com/commons/1987/mar/17/the-economic-background in the House of Commons (17 March 1987)

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "During the 1960s, and again in the 1970s, growth in manufacturing productivity in the United Kingdom was the lowest of …" by Nigel Lawson?
Nigel Lawson photo
Nigel Lawson 22
British Conservative politician and journalist 1932

Related quotes

Nigel Lawson photo

“It is worth recalling that during the 1960s, and again in the 1970s, Britain's growth rate was the lowest of all the major European economies. By contrast, during the 1980s, our growth rate has been the highest of all the major European economies. This greatly improved growth performance has been accompanied by falling inflation, which at 3½ per cent. in 1986 reached the lowest figure for almost 20 years.”

Nigel Lawson (1932) British Conservative politician and journalist

Speech http://hansard.millbanksystems.com/commons/1987/mar/17/the-economic-background in the House of Commons (17 March 1987)

“Every major industry was once a growth industry. But some that are now riding a wave of growth enthusiasm are very much in the shadow of decline. Others, which are thought of as seasoned growth industries, have actually stopped growing. In every case the reason growth is threatened, slowed, or stopped is not because the market is saturated. It is because there has been a failure of management.”

Theodore Levitt (1925–2006) American economist and professor at Harvard Business School

Source: Marketing Myopia, 1960, p. 1; Lead paragraph

Arthur F. Burns photo

“Clearly, the broad effect of economic evolution until about 1920 was to increase the concentration of jobs in the cyclically volatile industries, and this was a major force tending to intensify declines of employment during business contractions. Since then, the continued progress of technology, the very factor which originally was mainly responsible for the concentration in the cyclical industries, has served to arrest this tendency. The upward trend of production in manufacturing and the other highly cyclical industries has remained rapid in recent decades.”

Arthur F. Burns (1904–1987) American economist and diplomat

Source: "Progress Towards Economic Stability", 1969, p. 109-110

“O. R.'s initial development began in the United Kingdom during World War II and was quickly taken up in the United States. This start took place in a military context. After the war O. R. moved into business, industry and civil government. This movement was slower in the United States than in the United Kingdom but in 1951 industrial O. R. took hold in this country and has since developed very rapidly.”

C. West Churchman (1913–2004) American philosopher and systems scientist

Source: 1940s - 1950s, Introduction to Operations Research (1957), p. 3

“The historic fate of one growth industry after another has been its suicidal product provincialism.”

Theodore Levitt (1925–2006) American economist and professor at Harvard Business School

Source: Marketing Myopia, 1960, p. 15

Paul Krugman photo

“First, most of the speculation about the superiority of the communist system - including the popular view that Western economies could painlessly accelerate their own growth by borrowing some aspects of that system - was off base. Rapid Soviet economic growth was based entirely on one attribute: the willingness to save, to sacrifice current consumption for the sake of future production. The communist example offered no hint of a free lunch.
Second, the economic analysis of communist countries' growth implied some future limits to their industrial expansion - in other words, implied that a naive projection of their past growth rates into the future was likely to greatly overstate their real prospects. Economic growth that is based on expansion of inputs, rather than on growth in output per unit of input, is inevitably subject to diminishing returns. It was simply not possible for the Soviet economies to sustain the rates of growth of labor force participation, average education levels, and above all the physical capital stock that had prevailed in previous years. Communist growth would predictably slow down, perhaps drastically.”

Paul Krugman (1953) American economist

Pop Internationalism (1996), Asia's Miracle (1994)

Alexander Hamilton photo

“From these causes united, the mere separation of the occupation of the cultivator, from that of the Artificer, has the effect of augmenting the productive powers of labour, and with them, the total mass of the produce or revenue of a Country. In this single view of the subject, therefore, the utility of Artificers or Manufacturers, towards promoting an increase of productive industry, is apparent.”

Alexander Hamilton Report on Manufactures

Report on Manufactures (1791)

Alfred P. Sloan photo

“The industry has not grown much during the past three or four years. It is practically stabilized at the present [1927]. What has taken place is a shift from one manufacturer to another.”

Alfred P. Sloan (1875–1966) American businessman

Source: Alfred P. Sloan in The Turning Wheel, 1934, p. 210. Sloan in his Proving Ground address in 1927 to automobile editors, in discussing the so-called saturation point.

Eduard Pestel photo

“Our world model was built specifically to investigate five major trends of global concern – accelerating industrialization, rapid population growth, widespread malnutrition, depletion of nonrenewable resources, and a deteriorating environment. The model we have constructed is, like every model, imperfect, oversimplified, and unfinished… Our conclusions are : (1.) If the present growth trends in world population, industrialization, pollution, food production, and resource depletion continue unchanged, the limits to growth on this planet will be reached sometime within the next one hundred years. The most probable result will be a rather sudden and uncontrollable decline in both population and industrial capacity…”

Eduard Pestel (1914–1988) scholar

The Limits to Growth, abstract established by Eduard Pestel http://www.unav.es/adi/UserFiles/File/80963990/The%20Limits%20to%20Growth%20Informe%20Meadows.pdf, 1972, by Donella H. Meadows, Dennis l. Meadows, Jorgen Randers, William W. Behrens III.

“While numerous studies have dealt with the nature of organization-environment relations, the first major attempt to identify the types of organizational structure and managerial practice that are appropriate for different environmental conditions was conducted by Burns and Stalker, who studied twenty manufacturing firms in England and Scotland. Of these, fifteen were in the electronics industry, four were in research and development, and one was a major manufacturer. The particular environmental conditions examined were the rates of change in the scientific technology and the relevant product markets of the firms being studied.”

Arthur G. Bedeian (1946) American business theorist

1984; 190
Organizations: Theory and Analysis, 1984

Related topics