Managing Decline? 1870-1990
Nick Crafts looks at political factors in the chequered history of British economic performance since the high noon of mid-Victorian Britain.
Mid-Victorian Britain is commonly described as having passed through the 'First Industrial Revolution' to have become the 'workshop of the world'. Late twentieth-century Britain, of course, has no such pretensions. In the intervening years Britain has experienced a long period of relative economic decline marked by slower economic growth than in other countries and culminating in recent decades in a marked de-industrialisation of the economy.
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