The interwar period from 1919 to 1939 was a time of turmoil and hardship throughout Britain. The first world war tested the economy at a time when Britain's economic strength continued to decline in the face of other emerging powers such as the USA and Germany. Unemployment was rife throughout this period, remaining above 10% for over fifteen years. Generally seen as one of the major factors was structural unemployment, which came about largely through the decline of …showed first 75 words of 1415 total…

…showed last 75 words of 1415 total…claim benefit the rest of the time. 7 £1 - $4.86, Keynes saw this level as an overvaluation of about 10% - Pope: 34, 1998 8 Judged on the basis that investment in Britain was higher than in other industrialised countries Bibliography: The Industrial Age; Charles More. Longman: Essex, 1997. New Directions In Economic And Social History; A. Digby, C. Feinstein & D. Jenkins. Macmillan Press Ltd: London, 1992 The British Economy Since 1914: A Study In Decline?; Rex Pope. Addison Wesley Longman: New York, 1998