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This paper examines the role of competition in British productivity performance over the period from the late-nineteenth to the early twenty-first century. A detailed review of the evidence suggests that the weakness of competition from the 1930s to the 1970s undermined productivity growth but since the 1970s stronger competition has been a key ingredient in ending relative economic decline. The productivity implications of the retreat from competition resulted in large part from interactions with idiosyncratic British institutional structures in terms of corporate governance and industrial relations. This account extends familiar insights from cliometrics both analytically and chronologically. [ABSTRACT FROM AUTHOR]

This paper considers the approach to technological change by quantitative economic historians. It suggests that there has been a continuing tension between what economics has to offer economic history by way of technical methods and what economic historians would like to find in economic models. In this area, there has been a danger that use of economic analysis would impoverish historical enquiry. Since the advent of new growth economics the situation has improved in the sense that there is now greater congruence between the hypotheses proposed by cliometricians and the resources that economics has available to them to investigate these ideas rigorously. Unfortunately, however, economists are still reluctant to learn from economic historians. [ABSTRACT FROM AUTHOR]

This paper establishes that there are serious problems with the hypothesis that the Victorian climacteric was driven by the decline phase of steam as a General Purpose Technology. This is primarily because steam’s contribution to industrial output and labour productivity growth was stronger after 1870 than before and that the non-steam-intensive sectors exhibited an inverted U-shape in trend output growth through the 19th century, experiencing a marked slowdown between 1830 and the 1870s. Seeking to base an account of 19th century British growth primarily on the implications of steam is thus misconceived. [Copyright &y& Elsevier]