Economic changes in the UK since 1945

... ECONOMIC CHANGES IN THE UK SINCE 1945 Introduction The aim of this assignment is to make comparisons between two important post WW2 decades and try to explain the differences in economy and economic policy of the two decades. In 50s UK was a major world power, militarily and economically, but it had lost all that dominance in 70s because of the slowness in its economy and partly because of major political and economical mistakes, the other reason being was the slow economic growth of the UK compared to other industrialised countries. Another big difference in the two decades were the economic policies, and theories used by the government. The government of the 1950s were using more of Keynesian theories and were trying to control the economic factors (e.g. Inflation, unemployment) using Keynesian theories and demand side policies. Whereas the governments of the 1970s were using and implementing Monetarist (Supply & money side policies), they

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