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Chapter 2. The Prospects for 1960

Published online by Cambridge University Press:  26 March 2020

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Extract

Demand and output continue to rise. The problem is whether the rise in total demand—or in demand for particular types of goods—will be too large or too small in relation to the productive capacity of the economy. As the last chapter shows, the reserves of idle capacity and of labour are rather smaller than they were. There is certainly still scope for further expansion: capacity grows all the time. But the pace at which demand grows and the pattern of its growth must now be more carefully controlled.

Type
Articles
Information
National Institute Economic Review , Volume 7 , January 1960 , pp. 23 - 31
Copyright
Copyright © 1960 National Institute of Economic and Social Research

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References

note (1) page 25 Between October 1958 and April 1959 earnings rose faster than wage rates even after allowance for changes in overtime and in the pattern of employment.

note (2) page 25 The figures are given in more detail in the Appendix, page 45.

note (1) page 26 These estimates are based on provisional results of an econometric analysis of demand for durables in the last six years.

note (1) page 28 This view is set out in figures in the Appendix, page 43.

note (1) page 29 See ‘Imports and Expansion’, National Institute Econo mic Review, no. 2, March 1959.