Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

A Comparative History of Commerce and Industry, Volume IIRebuilding British Commerce and Industry

A Comparative History of Commerce and Industry, Volume II: Rebuilding British Commerce and Industry [What happened to the British business system after the great depression of the late 1800s? Did this nation’s economic position decline as a consequence of overproduction or growing international competition? Was it true that British entrepreneurs were unable or unwilling to adopt the many technological and managerial advances coming out of Germany and the United States? Or did the costs in human resources and capital caused by the long First World War send the economy into a tailspin from which it would never completely recover? The consensus answer for these questions is a qualified “yes.” Britain’s rate of growth did become slower in the last quarter than it had been during the Victorian boom years. Still, this could in no way be considered a failure. While this slowing of growth in the British economy was occurring, other nations’ economies were speeding up. Britain remained the world’s most powerful economy, although her competitors were growing closer. The slower growth rate was not a major blow for Britain’s businesses, but it did make it easier for other nations to catch up (Table 3.1). Attempts to determine why this happened have not been conclusive. Later authors will look upon the losses in the value of Britain’s manufacturing and exports as a myth; the changes that did occur were seen as more appropriately an indication of faster growth by other countries rather than failures in British industry (Bernstein 2005).] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Comparative History of Commerce and Industry, Volume IIRebuilding British Commerce and Industry

Download PDF
9 pages

Loading next page...
 
/lp/springer-journals/a-comparative-history-of-commerce-and-industry-volume-ii-rebuilding-BkJXl869X8
Publisher
Palgrave Macmillan US
Copyright
© The Editor(s) (if applicable) and The Author(s) 2016
ISBN
978-1-349-55223-8
Pages
25 –34
DOI
10.1057/9781137503305_3
Publisher site
See Chapter on Publisher Site

Abstract

[What happened to the British business system after the great depression of the late 1800s? Did this nation’s economic position decline as a consequence of overproduction or growing international competition? Was it true that British entrepreneurs were unable or unwilling to adopt the many technological and managerial advances coming out of Germany and the United States? Or did the costs in human resources and capital caused by the long First World War send the economy into a tailspin from which it would never completely recover? The consensus answer for these questions is a qualified “yes.” Britain’s rate of growth did become slower in the last quarter than it had been during the Victorian boom years. Still, this could in no way be considered a failure. While this slowing of growth in the British economy was occurring, other nations’ economies were speeding up. Britain remained the world’s most powerful economy, although her competitors were growing closer. The slower growth rate was not a major blow for Britain’s businesses, but it did make it easier for other nations to catch up (Table 3.1). Attempts to determine why this happened have not been conclusive. Later authors will look upon the losses in the value of Britain’s manufacturing and exports as a myth; the changes that did occur were seen as more appropriately an indication of faster growth by other countries rather than failures in British industry (Bernstein 2005).]

Published: Dec 17, 2015

Keywords: Industrial Revolution; Comparative History; British Economy; British Industry; Free Trade Policy

There are no references for this article.