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Updated: May 19, 2025
The 1959 deficit was caused in large part by the failure of our exports to penetrate foreign markets the result both of restrictions on our goods and our own uncompetitive prices. The 1960 deficit, on the other hand, was more the result of an increase in private capital outflow seeking new opportunity, higher return or speculative advantage abroad.
The 1959 deficit was caused in large part by the failure of our exports to penetrate foreign markets the result both of restrictions on our goods and our own uncompetitive prices. The 1960 deficit, on the other hand, was more the result of an increase in private capital outflow seeking new opportunity, higher return or speculative advantage abroad.
A year before the flame of war went roaring through Europe in unquenchable conflagration it would have seemed that nothing could possibly rouse Ashbridge from its red-brick Georgian repose. There was never a town so inimitably drowsy or so sternly uncompetitive.
There ought to be in permanent existence certain recognised industries of a useful, but uncompetitive character, like, we will say, afforestation, managed by public departments, and capable of being expanded or contracted according to the needs of the labour market, just as easily as you can pull out the stops or work the pedals of an organ.
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