United Kingdom investment is explained in terms of the international diffusion of technology, where the United States is assumed to be a technological leader and the United Kingdom a technological laggard. The gap between United Kingdom and United States capital-labor ratios is decomposed into...

Layard, Metcalf and Nickell have formed annual estimates of the union mark-up for unskilled males in the United Kingdom manufacturing sector over the period 1951-1983. We critically assess their estimates as an index of union power and propose a number of hypotheses that determine the union...

1. Sea change in the west -- 2. Global theories of secular stagnation -- 3. Transition theory -- 4. Empirical aspects of the transition theory -- 5. The long wave hypothesis -- 6. Transition in the nineteenth century : the British climateric 1860-1900 -- 7. A re-run of the 1970s -- 8. The...