state of the economy Flashcards
what were the main staples? what percentage of exports came from these and when?
the textile industry, steel, coal and shipbuilding
in 1913, 60% of exports came from these
optimistic view regarding staples
- still owned hald worlds shipping before 1914
- despite com from germany and usa, output of iron and steel continues to increase
- coal industry 100 million tons mined in 19870, rose to 287 million tons in 1913
what were the three most prominent techology based new industries?
electronic engineering, chemicals and motor vehicle production
what was the growth rate of the economy as a whole?
3.8% a year compares to an overall growth rate in manufactering of just over 2%
how many people were working in agriculture in 1901 compared to 1850? why was this?
1,400,000 compared to under two million due mechanisation and britain was eating mor food imported from overseas
what were farmers changing their focus of production from and why?
competition fro abroad for cheap grain meant farmers moved from wheat growing to cattle and beef farming which were more profitable that arable crops
in 1914, how many of britains goods and services were sold abroad and how much of the world trade did the have?
30% of goods and services, 25% of worlds trade as compared to 40% prior
what was britain the worl leader of
banking, investment and insurance, london remained commercial centre of the world
by 1913, how much of britains total national wealth was in investments overseas?
32%
what were key areas of concern regarding the british economy?
- lack of research and investment in new tech
- lack of progress in new industries
- a low wage econ
- issues of free trade
- shortcomings in ed and training
- problems in agriculture
what percentage of coal was mechanically cut in 1914 compared to america in 1900? how many converyors were there
only 8% compared to 20% in america, 360 converyors for thousands of mines, over 1 million employed in the mines 1913-27
german dyes
in 1913, 90% of artificial dyes used in britain were imported from germany
german chemical industry double the size of britain
low wage econ
in america, paid high wages, able to buy goods produced, high demand and ecouranged production
in britain, low wage econ, only rich and m.c can afford goods, small domestic market
britain compared to germany in terms of education (stats)
by 1908, less than 300 taking applied science in english unnis, germany had 400 chemistry grads a year
an average of 1000 graduate engineers in germany compared to 400 in b
what were positive aspects of the british econ 19016-1914
- the staple industries were still profitable
- world trade expanding rapidly so british goods selling in greater quantities than before
- worlds largest foriegn investor and value of invisible earnings brough profit
demand for fresh milk and high-quality meat remained strong
