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UK Economic History

Main points

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Trading

Lure of riches and exotic products

Early stocks and shares

England and the Netherlands

The South Sea Bubble

Corn Laws and free trade

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Empire and Industrialisation

Controlling trading routes and franchises

Setting up supply chains providing raw

materials for UK factories Laws set to protect UK producers at the

expense of colonies

IndustrialisationUK as workshop of the world

Market economics

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The Depression

1926 UK General Strike

Loss of coal markets during War and due to high value of pound

Unionisation

1929 Wall Street Crash The 20s speculation bubble burst

End of prominence of industrialised nations

Competition

Use of devaluations and beggar thy neighbour policies Need for restructuring

Keynes General Theory

Ends with WW2 and stricter financial regulations

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1945 - 1960

UK still in rationing for much of the 1950s

UK in debt to US

Bretton Woods Sterling devalued

Start of IMF and World Bank 1956 Suez Crisis

Obvious end of British Power

Wide Nationalisation

Social system NHS

Expansion of Education System

Immigration To fill unskilled jobs

Empire Windrush, restrictions in 1962 and 1972

Cold War

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1960s

Science and Technology take centre stage "the Britain that is going to be forged in the white heat of

this revolution will be no place for restrictive practices or

for outdated measures on either side of industry". Harold

Wilson 1963

Social Revolution

Feminism, End of Segregation (US), Gayrights, Disability Rights (1970s)

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1970s

1973 Oil Shock

Stagflation

Inflation unemployment

Sense of social decay

3 day week, strikes, power cuts

Height of IRA mainland campaigns Punk

UK entry to EEC 1974

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1980s

Thatcherism, Reaganomics Yuppies

Greed is Good

Miners Strike 1984

Widespread Privatisation

Big Bang 1987

Boom and Bust Collapse of USSR

Japan takes centre stage

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1990s

Thatcher leaves office

European Union - Maastricht

ERM and Black Wednesday 1992 Good Friday peace talks

Labour Victory 1997

End of Clause Four

Third Way

Cool Britannia

Independence of Bank of England

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21st Century

The Euro

Steady and calm economic growth for 10years

The cracks appear Northern Rock

Credit Crunch

Financial System Panic