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How Did The Great Depression Affect The Economic Growth Of Britain

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The first half of the 20th century was an era of transformation for Britain. The Great War, which lasted from 1914 to 1918, was thus named because of its devastating effects on the British population, socially and economically. The Great Depression began in 1929, causing staggering rates of unemployment and poverty in Britain and many other nations across the globe for a decade. These economic trials were followed by yet another horrific world war in 1939. By 1945, World War II had reached a dramatic close, and the British Empire was beginning to diminish in size as many of its colonies sought independence. With all of these challenges and failures in mind, it is easy to think that British history was a tragic narrative. However, at the same …show more content…

Pugh (2017) compares the economic growth of Britain to that of other countries, and while the British average was respectable, “around 2.2 per cent,” it was much less than those of other European countries, with “4.6 per cent in France and 4.9 per cent in West Germany,” (p. 361). The economic issues in Britain were related to military spending during both world wars, lagging technology and industrialization, as well as a dependency on the United States during World War II through the lend-lease program. When this program was suddenly ended after the conclusion of World War II, Britain’s exports were “only 46 per cent of their 1938 level” from only 7 years prior, due to their economic preoccupation with the war, (Pugh, 2017, p. …show more content…

Even from today’s perspective, the NHS is regarded as quite possibly “the most beneficial reform ever enacted in Britain,” (Pugh, 2017, p. 363). This revolutionary health care system paid for much of the individual’s medical needs through an increase in taxes, although private practices and hospitals were still permitted. The Welfare State also enacted similar reforms in the field of education. Free lunches became available to students in what Americans would call elementary public schools. Secondary education, such as at a university, would also be paid for by taxes, and students would also receive a grant or maintenance fee, much like a small salary in return for their studies. Within the realm of family, these social reforms also provided old age pensions and allowances for families of multiple children. Although this increase in taxation was not necessarily beneficial, the goals and achievements of the Welfare State can hardly be understated. Nevertheless, one must recognize the retrospective critiques of the Welfare State from both conservatives and socialists. Left-wing politicians may judge to past “for not going far enough towards the ideal of a welfare state” or a completely classless system,” and those on the extreme right regarded it as “having gone too far,” (Pugh, 2017, p. 353). While both of these analyses are valid, making judgments of the past is much easier

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