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The British Economy from 1873-1896.

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The British Economy from 1873-1896. The British economy before 1873: -Britain was the economic superpower of the world, due to her huge empire and monopoly of industrial global output. -50% of worlds Coal, 50% of worlds Iron & Steel and 50% of all Cotton goods were produced by Britain; not to mention much engineering goods, ships and arms. -from 1873 onwards, Britain's rivals- especially the U.S.A- began to carve out a stake in international trade. So, to what extent was there a "Great Depression" and what are the arguments against it? There was a "Great Depression" because: -The economic growth rate slowed; as in the British economy was growing slower than it had been in previous years. Britain's economic growth rate was slower than her rivals; in that the U.S.A, Germany & France were gradually producing more and more goods than Britain. However, the economy was still growing. Just because other countries were starting to find there feet,...

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