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Accounting for national success and failure: Rethinking the UK case

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  • Erturk, Ismail
  • Froud, Julie
  • Johal, Sukhdev
  • Leaver, Adam
  • Williams, Karel

Abstract

This article presents some basic political arithmetic on UK economic performance, including empirics on the sources of new job creation and regional differences. These empirics support an argument about the need for new measures and concepts of national success and failure. This is so because, as we show in the UK case, the standard post 1940 economic measures of GDP and unemployment give a seriously misleading picture of national success. This is an opportunity for accountants to join with others in devising new measures and concepts.

Suggested Citation

  • Erturk, Ismail & Froud, Julie & Johal, Sukhdev & Leaver, Adam & Williams, Karel, 2012. "Accounting for national success and failure: Rethinking the UK case," Accounting forum, Elsevier, vol. 36(1), pages 5-17.
    • Handle: RePEc:eee:accfor:v:36:y:2012:i:1:p:5-17
    DOI: 10.1016/j.accfor.2012.01.004
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    References listed on IDEAS

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    1. James H. Stock & Mark W. Watson, 2003. "Has the Business Cycle Changed and Why?," NBER Chapters, in: NBER Macroeconomics Annual 2002, Volume 17, pages 159-230, National Bureau of Economic Research, Inc.
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    3. Bezemer, Dirk J, 2009. "“No One Saw This Coming”: Understanding Financial Crisis Through Accounting Models," MPRA Paper 15892, University Library of Munich, Germany.
    4. Singh, Ajit, 1977. "UK Industry and the World Economy: A Case of De-industrialisation?," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 1(2), pages 113-136, June.
    5. Henry Chesbrough & Richard S. Rosenbloom, 2002. "The role of the business model in capturing value from innovation: evidence from Xerox Corporation's technology spin-off companies," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 11(3), pages 529-555, June.
    6. repec:dgr:rugsom:09002 is not listed on IDEAS
    7. Ken Coutts & Bob Rowthorn, 2009. "Prospects for the UK Balance of Payments," Working Papers wp394, Centre for Business Research, University of Cambridge.
    8. Engelen, Ewald & Erturk, Ismail & Froud, Julie & Johal, Sukhdev & Leaver, Adam & Moran, Mick & Nilsson, Adriana & Williams, Karel, 2011. "After the Great Complacence: Financial Crisis and the Politics of Reform," OUP Catalogue, Oxford University Press, number 9780199589081.
    9. Gordon, Ian R. & Travers, Tony & Whitehead, Christine M E, 2007. "The impact of recent immigration on the London economy," LSE Research Online Documents on Economics 23536, London School of Economics and Political Science, LSE Library.
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    Cited by:

    1. Sitkin, Alan, 2013. "Working for the local community: Substantively broader/geographically narrower CSR accounting," Accounting forum, Elsevier, vol. 37(4), pages 315-324.
    2. Andersson, Tord & Lee, Edward & Theodosopoulos, Grigorios & Yin, Ya Ping & Haslam, Colin, 2014. "Accounting for the financialized UK and US national business model," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 25(1), pages 78-91.

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