A Conversation with Harris and Seldon

Harris, Ralph; Seldon, Arthur

doi:10.2139/ssrn.681141

Cited by 2 publications

(1 citation statement)

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“…It was estimated in 1959 that British consumer HP debt amounted to around £12 per capita, a much lower figure than in the US (£49), Australia (£32), or Canada (£33). 69 This translated into an unusually low diffusion of consumer durables (given Britain's high per capita incomes). For example, in 1957 less than 10 per cent of British homes had refrigerators, compared to 12 per cent in France, 14 per cent in West Germany, 25 per cent in Denmark, 26 per cent in New Zealand, and 50 per cent or more in Sweden, Australia, Canada, and the US.…”

Section: IImentioning

confidence: 99%

The impact of ‘stop‐go’ demand management policy on Britain's consumer durables industries, 1952–65

Scott

Walker

2017

The Economic History Review

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This article examines the impacts of British government ‘stop‐go’ policy on domestic sales of consumer durables over the period 1952–65, via hire purchase restrictions and punitive Purchase Tax rates. Our analysis includes a general review of contemporary evidence regarding the impacts of these measures, a more detailed study of the television sector, and time‐series econometric analysis for both televisions and a representative high‐ticket labour‐saving consumer durable: washing machines. We find that the restrictions had devastating impacts on Britain's consumer durables industries, preventing firms from fully exploiting economies of scale, reducing output growth and international competitiveness, and eroding industrial relations. Government officials were aware of these problems, but considered them a price worth paying to facilitate moves towards sterling convertibility and the re‐establishment of the City as a leading financial and trading centre.

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Section: IImentioning

confidence: 99%