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Essay / Research Paper Abstract
This 5 page paper considers the way in which the UK economy has developed and changed since the 1970s when the unions held the balance of power and the state owned many of the now privatised businesses. The bibliography cites 9 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEpostuk.rtf
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Unformatted sample text from the term paper:
country to its knees with picture of Arthur Scargill on the new accompanied by news of the latest blackouts due to the miners strikes. Union power was high, and
seen as destructive to the capitalists at the time. This was due to the power balance remaining with the unions, creating a situation where increased productivity or efficiency would invariably
create conflict with unions if it meant changes to pay and conditions or threatened jobs. If we look at the subsequent way in which the economy has developed then there
are mixed results that both support and deny the supposition of this the impact the power of the union has had on the economic development of the country.
If we look at the current situation the trend appears to be good, with upward trends even with the recent fears regarding rescission and
the currently very high level of sterling against the Euro. We can measure development in terms of GDP, and even after the 1970s we see that although we
may argue there has been current growth, this is not completely correct, as in the 1980s there have been some glitches and downward trends in the growth. However, we can
also look at factors such as unemployment, standard of living as well as the other measures such the stock markets. Arguably one of the measures that may be used in
order to justify the way that the unions loosing power has been good for the economy is in the growth of the FTSE and investments.
The investment situation in the United Kingdom is also strong. Long term returns have been reliable and averaged between 1929 and 1997 at 6.2% (Coggan, 2000). Downward
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