HIST 386 Lecture Notes - Lecture 7: Price Controls, Chemical Industry, Unemployment
Document Summary
Br. eco. vulnerable b/c of industrialization of competitors (us+ger. ), and b/c br. industry concentrated on relatively narrow range of staples countries developing their own textile industries and protecting them behind tariffs. Bank of england pushed them up to 7% to check postwar boom. 3m in 1922-1923 (17% of working people) economy seemed to have settled at a permanently high level of unemployment in small towns, up to 60% And yes substantial economic growth in interwar years real incomes mass consumption standards of health and welfare most evident in new industry sectors electricity motor industries engineering (electrical, aircrafts) chemical industry (development of plastics) housing. 1931 br. leaves the gold standard, then the pound stabilizes.
