Britain in the Industrial World
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Britain’s economic performance during the post-war period has been poor in comparison with that of other developed countries. There are many illustrations of this. An economic survey of the United Kingdom, published by the OECD in 1962, showed that Britain’s growth during the 1950s was lower than that of any other member country.1 A Brookings Institution study of Britain, published in 1968, remarked in the introduction that the casual observer often treats Britain as burntout, by comparison with her North Atlantic neighbours.2 More recently, the Hudson Institute, Europe has produced a popular book indicating at some length the extent of the relative economic decline of the United Kingdom.3 Virtually every recent book about the British economy touches upon Britain’s decline at some stage, while many newspaper articles also discuss Britain’s waning economic power. Perhaps the one point of general agreement among economists is the reality of Britain’s relative economic decline.
KeywordsMoney Supply Industrial World Foreign Competition Industrial Investment Develop Market Economy
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- 1.OECD, Economic Survey of the United Kingdom, 1962.Google Scholar
- 2.Richard E. Caves et al., Britain’s Economic Prospects, Allen & Unwin, 1968.Google Scholar
- 3.The Hudson Institute, Europe, The United Kingdom in 1980, Associated Business Programmes Ltd., 1974.Google Scholar
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