By David E. McNabb
A Comparative background of trade and undefined, quantity II bargains a subjective evaluation of the way the cultural, social and monetary associations of trade and advanced in industrialized countries to supply the establishment we now recognize as service provider.
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Extra resources for A Comparative History of Commerce and Industry, Volume II: Converging Trends and the Future of the Global Market
These small, domestic-market-oriented firms provided employment for some 60 percent of Britain’s total industrial workers, and 34 A Comparative Hist ory of Commerce and Industry probably experienced no productivity gains whatsoever from 1760 to 1860, and little thereafter. These industries waxed and waned with economic conditions at home. They were often the first to feel the pinch of economic decline, and the last to benefit from a turnaround. That the British business system and its pattern of growth were strikingly different from the experiences of most other nations at the time cannot be questioned.
By the end of the Napoleonic Wars, around 1820, only the economy of France was greater than that of Britain; again, the economy of the United States still lagged behind that of the other four countries, and less than a third that of Britain. By 1870, one year later after the beginning of the Industrial Age, Britain was still the dominant global economy, something like 25 percent greater than that of Germany or France, and four times as great as that of Japan. 1 GDP for selected countries, 1700–2012 ($ millions or trillions world) Year Country 1700 1820 1913 1990 2000 2013 ($ million) ($ million) ($ million) ($ trillion) ($ trillion) ($ trillion) UK 10,706 36,232 224,618 1,019 1,493 2,522 Germany 13,410 26,349 237,332 1,714 1,886 3,634 Japan 15,390 20,739 71,653 3,103 4,731 4,901 547 12,548 517,383 5,979 10,249 16,800 United States Source: OECD 2014 and World Bank 2014.
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? ” 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.
A Comparative History of Commerce and Industry, Volume II: Converging Trends and the Future of the Global Market by David E. McNabb