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"British disease": the factors of the economic crisis in the UK in 1970

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  • Nevskij, Sergei

    (Lomonosov Moscow State University)

Abstract

The article presents a retrospective analysis of the causes and consequences of the economic crisis in the UK in the 1970s, as a result of which the country has lost its competitive potential in relation to other industrialized countries of the West. It is argued that the main factors "British disease" were not only external factors - global crisis, stagflation and structural changes in the economic development, but above all internal deficits - the low level of productivity, the shortcomings of the education system, disordered labor relations, economic policy failures of the postwar period and archaic system of political and social institutions.

Suggested Citation

  • Nevskij, Sergei, 2013. ""British disease": the factors of the economic crisis in the UK in 1970," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, pages 38-61, February.
    • Handle: RePEc:rnp:ecopol:ep1314
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    References listed on IDEAS

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