Lack Of Research And Investment In New Texhnologies Flashcards
1
Q
How did Britain compare to the US+Ger in investments
A
Invested few resources in new methods of production, fell behind US and Ger in steal and iron production due to more efficient and effective ways of production
2
Q
How did foreign observer describe the British steel industry
A
‘Pessimism and lack of courage’
3
Q
Why did Britain fall behind in industry
A
Equipment was less modern then GER and USA
4
Q
Why did GB not change machinery
A
Thought it would be too expensive, 8% of GB coal mechanically cut v 20% in USA
