will be here soon

Essay Analysing the British Economy in the 1920s.

By 1924 it was clear that the British economy was weaker than it had been in the pre-1914 years. Britain had seemingly lost its title of ‘the workshop of the world’ and was forced to fall in line behind major competitive countries such as America and Germany. The 1920s saw Britain face an economic decline in the industries that had once carried the country to industrial supremacy.

The First World War did bring major changes to the British economy. On a positive note industry was stimulated through an unprecedented switch to war production. However when peace finally arrived it brought with it some challenges to the country's economic future. The first set back was that Britain lost 750,000 men in the war (nine per cent of all men under 45 years of age) and twice that number had been severely wounded. This meant that Britain had lost a large productive section of its workforce. Although this was indeed a blow to the economy t...