In economics, British disease is a derogatory term to describe the period of economic stagnation in the United Kingdom in the 1970s[1] at the time the country was widely described as the "sick man of Europe". It was characterised by rates of capital investment and labour productivity which lagged behind continental Europe, as well as strained industrial relations. The term relates to a lack of social vitality during industrial disputes in the 1970s.[2]
A lack of productivity of the UK economy was one factor behind Margaret Thatcher's economic reforms.[3][4]
See also
editReferences
edit- ^ Access to History: Britain 1951-2007 (2nd ed.)
- ^ "The British disease revisited". The Economist. Retrieved 24 January 2018.
- ^ Donlan, Thomas G. "The British Disease and Its Cure". Retrieved 24 January 2018.
- ^ "Enemies within: Thatcher and the unions". 5 March 2004. Retrieved 24 January 2018.
External links
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