Description

Book Synopsis
During the 1920s, the black decade of British steel, nearly everyone agreed that the industry's revival depended on replacing obsolete equipment and instituting modern technologies that would increase production and decrease costs. Despite consensus, these goals were not reached and, even after wartime and postwar reconstruction needs were met, the industry continued its steady decline. Steven Tolliday advances three hypotheses for this stagnation. First, the problems of British steel, Tolliday suggests, were embedded in the structures of individual firms and of the industry as a wholeboth unchanged since the prosperous years of the nineteenth centuryand after World War I fractured by conflicting interests (share holders, managers, family members, bankers, creditors). Second, the two external institutions that might have enforced reorganization and modernizationthe banking system and the governmentwere overcautious, had complex and contradictory goals, and lacked the management skill

Business Banking and Politics

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    A Hardback by Steven Tolliday

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      Publisher: Harvard University Press
      Publication Date: 14/09/1987
      ISBN13: 9780674087255, 978-0674087255
      ISBN10: 0674087259
      Also in:
      Economic history

      Description

      Book Synopsis
      During the 1920s, the black decade of British steel, nearly everyone agreed that the industry's revival depended on replacing obsolete equipment and instituting modern technologies that would increase production and decrease costs. Despite consensus, these goals were not reached and, even after wartime and postwar reconstruction needs were met, the industry continued its steady decline. Steven Tolliday advances three hypotheses for this stagnation. First, the problems of British steel, Tolliday suggests, were embedded in the structures of individual firms and of the industry as a wholeboth unchanged since the prosperous years of the nineteenth centuryand after World War I fractured by conflicting interests (share holders, managers, family members, bankers, creditors). Second, the two external institutions that might have enforced reorganization and modernizationthe banking system and the governmentwere overcautious, had complex and contradictory goals, and lacked the management skill

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