Major recessions
Subtitle: Britain and the world, 1920-1995
By: Christopher Dow.
Publisher: Oxford University Press
Published: 1998
Place of publication: New York
Language: eng
Number of pages: 471
Subjects: Recessions.; Economic history -- 20th century.; Recessions -- Great Britain.
Description: In the twentieth century there have been five major recessions: two in the interwar period, and three more starting in 1973, 1979, and 1989. This book focuses on events in the UK, but sets them in their international context, and makes frequent comparisons with other countries. Major recessions happened at a similar time in all major countries, and the lessons are general.

Three main conclusions are reached major recessions reflect abrupt fallings off in demand, not supply; these are due to identifiable demand shocks and by swings in consumer and business confidence which amplify the direct effects of demand shock; and major recessions are not predictable. In the final chapter, Christopher Dow puts forward an insider's view on how to avoid future severe recessions.
Notes: Includes bibliographical references and indexes.