Introduction

Abstract

Certainly loss of Empire has been a critical factor. Corelli Barnett, a leading historian, cities 1941–42 as a significant turning point in our fortunes - the fall of Malaya, Rangoon and Singapore leading to a serious loss of raw materials - but like other critics, argues that the loss of economic momentum started in the nineteenth century. Economic historians agree that British industrial performance declined relative to that of our leading competitors sometime between 1870 and 1900, but differ as to whether the starting point was in the 1870s or in the 1890s. Addressing the Annual Lunch of the Parliamentary and Scientific Committee in 1980 HRH the Prince of Wales accused British management of being poor at communication, of being badly informed and of playing its cards too close to its chest.