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Essay text:
Economic Decline
After the second World War, Britain has lost its leading postion. This had several economic, political and social causes.
politico-economic reasons:
- loss2 of British capital during the two world wars
- loss of colonial markets
- antagonistic3 economic principles of the alternating4 Labour and Tory governments
- Lack of innovation and modernization, mismanagement and low productivity especially in the traditional industries (coal, iron, steel, textiles)
- Low exports of British-made goods and increasing dependence on foreign- manufactored imports
- Inadequate infrastructure
- Bad relations between the Trade Unions and management · numerous official and unofficial (or so-called ,,wildcat") strikes; there are more than 400 different unions in Britain which are loose organized
During the 60?s and 70?s, industrial relations deteriorated5 and the amount of strikes in mining, shipbuilding and the car industry began to paralyse6 the country...
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