PEGFA Research Seminars 2023-24: Rob Jump & Vicky Lee

23rd Nov 2023 5pm - 6:30pm


The Institute of Political Economy, Governance, Finance and Accountability invites you to its Research Seminar Series 2023-24.

Our fourth seminar will feature PEGFA experts Dr Rob Jump and Dr Vicky Lee.

QA010 5.00-6.30pm

Dr Jump's presentation will be focused on "Revisiting the role of profits in the collapse of Britain’s post-war consensus".

Please find the abstract here:

It is widely assumed that British companies suffered a collapse in profits in the late 1960s. This proposition was first advanced by Andrew Glyn and Bob Sutcliffe in 1971, and influenced various interpretations of post-war British history from the 1970s onwards. Most importantly, it supported the widespread view that organised labour used its bargaining power to erode the long-term viability of British capitalism in the 1960s, which continued into the 1970s and contributed to the breakdown of the post- war consensus. In this paper I argue that, although profitability did decline over the broad sweep of the post-war consensus, this process had stopped by 1966. Interestingly, this falsification of Glyn and Sutcliffe’s hypothesis does not rely on any inadequacy in their empirical work. Instead, it relies on data revisions that were only incorporated into the British national accounts from 1976 onwards. As stagflation and industrial
unrest only became serious problems after 1966, I argue that declining profitability played very little role in the collapse of Britain’s post-war consensus.

Dr Lee will be discussing "The fire sale enigma: revealing long-term benefits of divestiture amid financial turmoil".

Please find the working paper here.

Please click here to access the seminar via Microsoft Teams.

We look forward to seeing you there!

Please find the entire programme for this year's Research Seminar Series here.