The Debate over Britain's Economic Decline

Description

A Levels History ('A closer look' notes) Mind Map on The Debate over Britain's Economic Decline, created by lizzie.lambrou on 25/03/2014.
lizzie.lambrou
Mind Map by lizzie.lambrou, updated more than 1 year ago
lizzie.lambrou
Created by lizzie.lambrou over 10 years ago
59
0

Resource summary

The Debate over Britain's Economic Decline
  1. The crises of the 1970s were the inevitable culmination of long-term economic decline
    1. British governments had failed to control public spending, or to face down wage demands from unions.
      1. British industry had failed to restructure and invest in modern equipment.
        1. Britain's share of world trade had declined steadily.
          1. 1/4 in 1951 to 1/10 by 1975.
          2. Technical education had been neglected.
            1. Productivity was low compared with foreign competitors.
              1. Average GDP growth from 1950-73: Britan 3%, West Germany 6%, Japan 9%
              2. Nationalisation had been a big mistake.
                1. Governments (both Conservative and Labour) had intervened too much to prop up failing industries.
                  1. Too much emphasis on full employment had led to constant problems with inflation.
                    1. The painful economic reforms introduced by Thatcher after '79 were both necessary and overdue.
                    2. No 'continuous decline', the 'Golden Age'
                      1. The post-war era can be regarded as a 'Golden Age'.
                        1. Living standards rose steadily
                          1. Rate of economic growth was consistently higher than it had been between 1900-39
                            1. Unemployment, the curse of the 1930s, averaged 2%
                              1. Year by year, Britain was becoming a more prosperous and equal society
                              2. Unfavourable comparison with foreign competitors can seem misleading.
                                1. Both Germany and Japan had been devestated by WWII
                                  1. Had had to completely restructure their economies
                                    1. Neither had been permitted to rebuild their military strength
                                    2. Looks better when Britain's defence spending (annual average 7% of GDP) is taken into account.
                                    3. Thatcher's radical policies in the '80s were excessively severe and often unnecessary
                                    Show full summary Hide full summary

                                    Similar

                                    Weimar Revision
                                    Tom Mitchell
                                    Hitler and the Nazi Party (1919-23)
                                    Adam Collinge
                                    History of Medicine: Ancient Ideas
                                    James McConnell
                                    GCSE History – Social Impact of the Nazi State in 1945
                                    Ben C
                                    Conferences of the Cold War
                                    Alina A
                                    Bay of Pigs Invasion : April 1961
                                    Alina A
                                    The Berlin Crisis
                                    Alina A
                                    Using GoConqr to study History
                                    Sarah Egan
                                    Germany 1918-39
                                    Cam Burke
                                    History- Medicine through time key figures
                                    gemma.bell
                                    The Weimar Republic, 1919-1929
                                    shann.w