Was Britain's relative economic decline before 1914 an inevitable consequence of foreign industrialisation or a manifestation of serious failings within the domestic economy?

Essay , 2004 , 12 Pages , Grade: 2,0

English Language and Literature Studies - Culture and Applied Geography

At the end of the 19thcentury Great Britain experienced an economic decline, the reasons for which are still controversially discussed among historians. While some stress the changes in the world economy due to the spread of industrialization in the 19th century, others hold the view that serious failings within the domestic economy are the major causes for Britain’s downfall. After a short description of the degree of Britain’s decline before 1914, some of the major reasons for Britain’s relative economic decline will be analyzed and compared. The aim of this paper will be to evaluate the severity of external changes that the British had no control of as well as internal failings within the British economy that contributed to Britain’s relative economic decline. Writing about Britain’s economic decline at the end of the 19thCentury, it is first of all necessary to define in how far one can speak of a ‘decline’. Most historians point out that Britain’s economic decline is only a relative one. They argue that in comparison to Britain’s earlier growth or in relation to the growth of other advanced countries, like e.g. the USA or Germany, one can realize a decline in the economic performance of Great Britain but that in general there was no decline in the last third of the 19thcentury. Alford renders it more precisely by saying that: “British enterprise, it will be argued, did not decline during this period: it remained remarkably constant and inflexible.” In fact Britain’s GDP was still rising between 1870 and 1890 but, like mentioned before; the annual rate of growth was much slower. According to Crouzet Britain achieved a growth rate of 3.1 per cent from 1811 to 1877, while it fell to only 1.6 per cent between 1877 and 1913. That causes historians to differ in terms of the beginning of the decline. Most historians refer to the year 1873 when they talk about the beginning of Britain’s decline while others argue that Britain achieved its most rapid growth in industrial production in the 1820s and 1830s and that the time of Victoria’s accession could therefore be regarded as the true beginning of the relative economic decline. Nevertheless, in this paper the time around 1870 will be regarded as the beginning of Britain’s economic decline since it was between 1870 and 1913 that Britain’s share of the total world industrial production fell from 31.8 per cent to 14 per cent. [...]

Inhaltsverzeichnis (Table of Contents)

• Introduction
• Problems of definition
• The effects of the spread of industrialization
• Failings within the domestic industry
  • The lack of innovation
  • The size and structure of British companies
  • Free Trade
• Conclusion

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This paper aims to analyze the reasons behind Great Britain's relative economic decline before 1914. The author will examine both external factors, such as the spread of industrialization across the globe, and internal factors, such as shortcomings within the British economy itself.

• The nature of Britain's economic decline, particularly whether it was an absolute or relative decline.
• The impact of the spread of industrialization on the British economy.
• The role of internal factors in Britain's economic decline, including the lack of innovation, the structure of British companies, and the policy of free trade.
• The importance of new technologies and industries in the "second industrial revolution."
• The challenges faced by Britain in adapting to the changing global economic landscape.

Zusammenfassung der Kapitel (Chapter Summaries)

• Introduction: The paper introduces the topic of Britain's economic decline at the end of the 19th century and outlines the contrasting perspectives of historians on its causes. The aim of the paper is to evaluate both external and internal factors that contributed to this decline.
• Problems of definition: This chapter clarifies the concept of "decline" by emphasizing its relative nature in comparison to Britain's previous growth or the growth of other advanced countries. The chapter also explores different opinions regarding the timing of this decline and provides statistical evidence to support the notion of a decline beginning around 1870.
• The effects of the spread of industrialization: This chapter examines the impact of the spread of industrialization across the globe on the British economy. It highlights how the rise of industrialization in other countries, particularly Germany, France, and the USA, posed new challenges to British industry. The chapter also analyzes the significance of the "second industrial revolution" and its emphasis on science-based and capital-intensive industries.

Schlüsselwörter (Keywords)

This paper focuses on the economic decline of Great Britain in the late 19th century, examining the roles of external factors such as the spread of industrialization and internal factors such as the lack of innovation, company structure, and free trade policies. Key themes include the relative nature of decline, the impact of the "second industrial revolution," and the challenges of adapting to a changing global economic landscape.

• College: University of Birmingham (Department of History)
• Course: The History of Modern Britain
• Grade: 2,0
• Author: Nadine Röpke (Author)
• Publication Year: 2004
• Pages: 12
• Catalog Number: V57446
• ISBN (eBook): 9783638519014
• ISBN (Book): 9783656778776
• Language: English
• Tags: Britain, History, Modern, Britain