Julian Greaves - Industrial Reorganization and Government Policy in Interwar Britain

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Industrial Reorganization and Government Policy in Interwar Britain

Modern Economic and Social History Series

General Editor: Derek H. Aldcroft

Titles in this series include:

Exchange Rates and Economic Policy in the 20th Century
Edited by Ross E. Catterall and Derek H. Aldcroft

Britain and the Economic Problem of the Cold War
The Political Economy and the Economic Impact of the British Defence Effort, 19451955
Till Geiger

Studies in the Interwar European Economy
Derek H. Aldcroft

Arms and the State
Sir William Armstrong and the Remaking of British Naval Power, 18541914
Marshall J. Bastable

Whatever Happened to Monetarism?
Economic Policy Making and Social Learning in the United Kingdom Since 1979
Michael J. Oliver

Disillusionment or New Opportunities?
The Changing Nature of Work in Offices, Glasgow 18801914
R. Guerriero-Wilson

Raleigh and the British Bicycle Industry
An Economic and Business History, 18701960
Roger Lloyd-Jones and M.J. Lewis with the assistance of M. Eason

Battles for the Standard
Bimetallism and the Spread of the Gold Standard in the Nineteenth Century
Ted Wilson

An Affluent Society?
Britains Post-War Golden Age Revisited
Edited by Lawrence Black and Hugh Pemberton

Industrial Reorganization and Government Policy in Interwar Britain

Julian Greaves

First published 2005 by Ashgate Publishing

Published 2016 by Routledge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
711 Third Avenue, New York, NY 10017, USA

Routledge is an imprint of the Taylor & Francis Group, an informa business

Copyright 2005 Julian Greaves

Julian Greaves has asserted his moral right under the Copyright, Designs and Patents Act, 1988, to be identified as the author of this work.

All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers.

Notice:
Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe.

British Library Cataloguing in Publication Data
Greaves, Julian
Industrial reorganization and government policy in interwar
Britain. (Modern economic and social history)
1. Industrial policy Great Britain History 20th century 2. Industrial
policy Great Britain History 20th century Case studies 3. Great Britain
Commercial policy History 20th century 4. Great Britain Commercial
policy History 20th century Case studies 5. Great Britain Economic
conditions 19181945
I. Title
330.9'41083

Library of Congress Cataloging-in-Publication Data
Greaves, Julian, 1962
Industrial reorganization and government policy in interwar Britain / Julian
Greaves.
p. cm.(Modern economic and social history)
Includes bibliographical references and index.
ISBN 0-7546-0355-5 (alk. paper)
1. Industrial policyGreat BritainHistory20th century. 2. Industrial
organizationGreat BritainHistory20th century. 3. Great
BritainEconomic policy19181945. I. Title. II. Series: Modern economic
and social history series.

HD3616.G72G75 2004
338.941'009'042dc22

2004003421

ISBN 9780754603559 (hbk)
ISBN 9781138263444 (pbk)

Typeset in Sabon by Laserscript, Mitcham, Surrey, Great Britain.

To the memory of my father

Contents

1. 1 Business Organization and the British Economy in the 1920s

1. ii

Guide

Economic and social history has been a flourishing subject of scholarly study during recent decades. Not only has the volume of literature increased enormously but the range of interest in time, space and subject matter has broadened considerably so that today there are many sub-branches of the subject which have developed considerable status in their own right.

One of the aims of this new series is to encourage the publication of scholarly monographs on any aspect of modern economic and social history. The geographical coverage is worldwide and contributions on non-British themes will be especially welcome. While emphasis will be placed on works embodying original research, it is also intended that the series should provide the opportunity to publish studies of a more general and thematic nature which offer a reappraisal or critical analysis of major issues of debate.

Derek H. Aldcroft
University of Leicester

This book has had a long gestation period and I have received the help of a considerable number of people and institutions along the way. I would like to thank particularly the ESRC who financed the early stages of the project when it was still a PhD thesis. I would also like to thank staff at Birmingham University Library, the Public Record Office, the Bank of England, the Robinson Library, University of Newcastle-Upon-Tyne, the Scottish Record Office and the Modern Records Centre, University of Warwick for their help along the way. Sheila and Pat Nuthall were generous with their hospitality for an extended period. Academically my biggest debt is to Professor Rick Garside, who inspired me to take on this topic many years ago. It would be stretching a point to say that I have never had a moment's regret since. But without his help and advice at various stages this book would never have come to fruition. Finally I must thank my family who have borne with equanimity having a semi-detached relative at various times during work on the manuscript.

I acknowledge the permission of Palgrave Macmillan to reproduce tables from D.H. Aldcroft and H.W. Richardson, The British Economy , 18701939 (London, Macmillan, 1969) and from Robert Robson, The Cotton Industry in Britain (London, Macmillan, 1957). Tabular material from B.R. Mitchell, British Historical Statistics (1988), B.R. Mitchell and P. Deane, Abstract of British Historical Statistics (1962) and James Sefton and Martin Weale, Reconciliation of Estimates of National Income and Expenditure: Balanced Estimates of National Income for the United Kingdom, 19201990 (1995) is reproduced courtesy of Cambridge University Press. Table 4 of S.N. Broadberrys article 'The Long Run Growth and Productivity Performance of the United Kingdom', Scottish Journal of Political Economy , 44 (1997) is reproduced courtesy of Blackwell Publishing. Table 8.3 of R.C.O. Matthews et al., British Economic Growth 18561973 (1982) is reprinted by permission of Oxford University Press.

• BIDC Bankers Industrial Development Company
• BISF British Iron and Steel Federation
• BoE Bank of England
• CIA Chief Industrial Advisor
• CIB Cotton Industry Board
• CMRC Coal Mines Reorganization Commission
• EAC Economic Advisory Council
• FBI Federation of British Industries
• FDI Foreign Direct Investment
• HMSO Her Majesty's Stationery Office
• ICI Imperial Chemical Industries
• IDAC Import Duties Advisory Committee
• IRC Industrial Reorganization Corporation
• IRL Industrial Reorganization League
• JCCTO Joint Committee of Cotton Trade Organizations

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