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
- Dutch disease
- Accession of the United Kingdom to the European Communities (1973)
- Labour government, 1974–1979
- Thatcherism
- Social history of Postwar Britain (1945–1979)
References
- ^ 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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