UK Decline How Many Times Term Paper

Download this Term Paper in word format (.doc)

Note: Sample below may appear distorted but all corresponding word document files contain proper formatting

Excerpt from Term Paper:



Carrabine, Lee and South 193)

Industrial/Infrastructural Decline

As has been said before, the UK no longer makes anything, builds anything or sells anything tangible. The decline in industrial production has resulted in an overall decline in employment of industrial workers, who have not been aided by a failing system to transition to other work.

Some would say that the changes occurring in the UK, at this time with the increased importance of service industry work and intelligence rather than physical labor employment is a natural byproduct of globalization and an evolutionary product of the next phase as a "developed" nation.

They evidence this by observing that all developed nations are leaning in this direction. Yet, the transition has not and will not be easy, whether it is normal or not, a point which remains to be proven.

Kocherlakota)

With the education system in the UK in serious need of reform to reflect the changing needs of the country, and her people there is little hope for this generation. Though some would say that education is a social issue the connection between education and industry has been highly honed throughout history in the western world. Compulsory education is a way not only to create better civic citizens but it is a way to bridge the gap between childhood and adulthood industry. Yet, the higher education system and the poor apprenticeship programs in the UK are not conforming as quickly as the industry is changing.

Leathwood and Hayton) Which will in turn increase the unemployment rates, illicit behaviors and general unrest in the nation. There are several bullet points in the basis of this work that have been outlined below and they are:

Poor general education Standards, poor apprenticeship System

Manufacturing now only a small and decreasing part of GDP, with productivity below that of France, Germany,

Scandinavia despite longer working hours in UK

Lower Standards of worker protection and lower labour costs in UK are NOT leading to lower prices for British goods

Balance of payments - massive deficit and rising

North Sea oil production peaking

Poor infrastructure - railways, roads etc.

Poor long-term Investment over many years

The decline of the productivity of the UK is probably of the greatest concern after education and economic transition, as the attempted observation of many humanitarian labor goals have attempted to be met by the UK. Standards for employment that ar enot seen in other places and a huge part of the foundational ideals of a nation built, sadly upon the backs of very low paid, and under served masses of individuals all over the Empire, as it where, as is also commonly known a major player in the slave trade and use. The mid twentieth century, with its many independence-seeking nations, who were still under the infrastructural and nominal control of the UK, led to a greater awareness of the historical significance of unfair labor practices among the UK's people not to mention the immigrants from these very nations achieving freedom.

In the mid-nineteenth century, the United Kingdom I boasted the highest economic output per capita of any nation in the world, and its material standards of living were without equal. Ever since then, it has gradually lost ground. It now ranks bottom of the league of G7 countries, trailing the leader, the United States, by 30%

Lovegrove et al. 44)

With that in mind the UK has also seen a steady decline in productivity that many would place squarely on the back of fair labor practices, yet is this a fair assumption?

A significant study on the subject says that no, this is not the root of the problem, rather the root of the problem is lack of exposure ot best practices and a low competitive intensity.

The reasons often cited for poor performance, such as low capital investment and poor skills, are consequences of these factors. Lack of exposure to global best practices and low competitive intensity are often the result of product market barriers such as trade restrictions, price constraints, and land use regulations. In some cases, these barriers constrain competition and so limit the pressure on management to adopt global best practices. In others, they prevent the implementation of best practices or render it uneconomic.

Lovegrove et al. 44)

What is true is that many developed economically sound nations have adapted their restrictions on social and labor issues to better meet the need of the market economy. Now this is not to say that we should abandon the laws that govern the legitimate social objectives of the nation but that we should readdress them to help create better ones.

According to one study: Replacing them with more market-friendly alternatives could boost GDP growth by more than a full percentage point a year over the next ten years.

(Lovegrove et al. 44) This should not have begun at lowered standards of worker protection, as it has, it should begin with a reevaluation of broader concepts that limit production and profitability of industry. Doing so would answer many of the other problems associated with economic and social issues, and would also possibly lead to a reduction in the mass industrial exodus from a nation founded and created by industrialization, with a strong work ethic and a blue blood mentality. (Ostrom and Schroeder)

Economic Decline

As has been mentioned previously, credit card debt for consumers in the UK is at an all time high and yet few everyday people really understand what is at stake. A clue should be derived from the fact that it appears so often in any discussion of decline, as an important factor worth regarding. In fact many would say it was a national crisis, and still many more, especially those who get fat off the interest and fees paid by consumers would deny such a charge. We can clearly agree that past labor practices associated with the lending of credit to workers, far exceeding labor ability at high interest in exchange for labor was a way in which many corporate entities in the past have sapped profit from the labor of others. Yet, when it comes to the plastic most people do not see the significance of the problem, they see it as a temporary fix to a poorly balanced work to pay schedule, and the like, yet they do not understand the full impact of the payment system and with best intentions aside they rarely meet their initial goals with regard to balance or making payments above the minimum.

Many consumers value uncollateralized credit lines for making purchases when they are illiquid (i.e., before their incomes arrive), even at relatively high interest rates. Because few alternatives to short-term uncollateralized credit exist, the demand for such credit may be fairly inelastic with respect to price (Brito and Hartley 1995). Ausubel (1991) suggests that consumers may not even consider the interest rate when making purchases because they do not intend to borrow for an extended period when they make purchases. However, they may change their minds when the bill arrives.

Chakravorti and Emmons)

For these and many more reasons this problem takes the top billing in the list of general economic concerns in the UK. The statistic on credit card usage in the UK speaks for itself and begs for a great deal of research and scrutiny both by consumers and the society in genral.

75% of credit card borrowing in Europe is in UK - average personal debt level highest in Europe

Inflated house prices feeding living on credit

Balance of trade - see above Uncertainty about the € has negative effect on Investments and longer-term planning

Housing prices have also been a historical problem in the UK, since really the beginning of urbanization, with the industrial demands of the cities, far outweighing the available housing, yet with growth at a relatively low rate of increase it is hard to see how such prices can be held so high eternally. There is many a UK resident who would like to understand why it seems so much more fundamentally difficult for a young upwardly mobile professional to buy a home than it was for their even blue color parents, and why if this is the case, doe sit seem that the higher the prices for a house the stronger the economy?

A writer entertaining the thought of moving to a larger house had this to day about the possible reasons for the housing crunch. Though this may seem a simplistic answer, it was straight form the horses mouth, as they say.

According to an estate agent I spoke to the other day, the reason for the housing shortage is absurd. Estate agents go around telling people, for all I know truthfully, that the property from which they are hoping to move is incredibly saleable in the present market conditions. This is supposed to…[continue]

Cite This Term Paper:

"UK Decline How Many Times" (2004, December 07) Retrieved December 9, 2016, from http://www.paperdue.com/essay/uk-decline-how-many-times-58657

"UK Decline How Many Times" 07 December 2004. Web.9 December. 2016. <http://www.paperdue.com/essay/uk-decline-how-many-times-58657>

"UK Decline How Many Times", 07 December 2004, Accessed.9 December. 2016, http://www.paperdue.com/essay/uk-decline-how-many-times-58657

Other Documents Pertaining To This Topic

  • UK Adopt the Euro The

    It is administratively aggravated which will only assist European policy makers. Account means a continuing shift of domestic monetary autonomy to the European Central Bank indicating providing elasticity on exchange rates and interim interest rates. Domestic monetary policy would in no case be able to react supplely to exterior economic alarms like the increase in goods price increase. The prospect for lessening local economic problems will be more narrowed

  • UK Labour Market the Labour Market Is

    UK Labour Market The labour market is defined by the Office for National Statistics (2011) as those between the ages of 16 and 64 inclusive. They are typically categorized as either employed, unemployed or inactive. Income inequality refers to the spread of income throughout the labour market. The most common measure of income inequality is the Gini coefficient. The indicator reflects the distribution of income among economic classes and is expressed

  • US Decline the Decline of

    Bonta states of Rome that, by the first century B.C., sexual mores had been abandoned, and the former sanctity of marriage forgotten. Crime, once almost unknown in Rome, became rampant. In such an environment, Rome became an easy target for political conspiracies like that of Catiline, which exploited the criminal elements in Rome to carry out bribery, blackmail, and assassination. (Bonta 2005. p36) One would not be too hard put

  • UK Immigration and European Convention

    In the event that the analysis of records of telephone, e-mail and internet use was considered to amount to an interference with respect for private life or correspondence, the Government contended that the interference was justified. First, it pursued the legitimate aim of protecting the rights and freedoms of others by ensuring that the facilities provided by a publicly funded employer were not abused. Secondly, the interference had a

  • Managing Sustainability Bt Group in UK

    These tiny particles are poison and damage the green effect. For the reason that they reflect solar energy back into space they have a preservation result on the world. Ocean current is a problem because it has an effect on the greenhouse. Also, ocean currents are something that has been able to move vast amounts of all heat all over the planet. Also, winds are what push horizontally towards the

  • Credit Crunch on UK Residential

    While it was generally agreed that the increase in prices was due mainly to an insufficient offer as the stock house was limited, opinions have also been forwarded according to which the buy-to-let purchases have contributed to the inflation of the house prices (Property Mark). The debate concerning the reasons for the massive price increases for residential properties (materialized mostly between 1996 and 2005) is however still ongoing. On the

  • United Drug Is a Dublin Based Firm That

    United Drug is a Dublin-based firm that describes itself as "a provider of outsourced commercialisation solutions to healthcare companies operating across three divisions." The three divisions are Healthcare Supply Chain; Sales, Marketing and Medical; and Packaging and Specialty. Supply Chain involves wholesaling, sales and distribution and sometimes manufacturing. The Sales, Marketing and Medical division includes as functions contrast sales outsourcing, sales force consulting, and healthcare communications. The Packaging and Specialty


Read Full Term Paper
Copyright 2016 . All Rights Reserved