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Title: The state, war and industry : the effects of the First World War on the profitability of British industry.
Author: Arnold, Anthony John.
Awarding Body: London School of Economics and Political Science (University of London)
Current Institution: London School of Economics and Political Science (University of London)
Date of Award: 1995
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Militarism and war have had important, but poorly-understood effects on economic development. The intention of this thesis is to add to our knowledge of these processes by analysing the effects of the First World War on the profitabiity of British industry. War is an act of state policy and the thesis considers the role of the state and its relationship with the economy and its major interest groups in general terms before examining the changes in this relationship that were brought about by the First World War. The state can act by means of compulsion or through institutionalised social negotiation; the First World War is of particular interest because, for the first time, the latter was used extensively as a means of government and because the state's policies involved a new politicization of the profit concept. War-time concerns over 'profiteering' appear to conflict with the available economic data, which suggest that this was not a particularly rewarding period for business, but the data that is available on company profitability is too flawed, chiefly by the accounting practices of the time, properly to resolve the uncertainties involved. The main part of the thesis provides an analysis of data derived from the archives of a set of thirty companies, which enable internally calculated and externally published pre- and post-tax profits to be compared. These results provide important new evidence on industrial profitability across the trans-war period, on the nature of the accounting practices of the time, and on the effects of the state's taxation policies, which had been bargained for labour restraint, on the industrial sector.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available
Keywords: Economics & economic theory Economics History