struggling with economic areas in history a level - britain 1930-997

Im in year 12 studying a-levels and I do History, Law and Politics. the exam board for history is OCR and the module im struggling with is Britain 1930-1997. the main area im struggling with is understanding the economics and how it all works and relates to each other e.g. stagflation, balance of payments so I was wondering if anyone had any good resources that would help me

Reply 1

McKerrow_History

Original post by _leonatorres

Stagflation:

What Is Stagflation and What Causes It? | Mises Institute

Balance of Payments:

Neo-Mercantilists Hysteria | Mises Institute

You're textbook and teacher will probably say that Britain was importing too many goods and not exporting enough goods (this is what the balance of payments problem is). I don't want to go too deep into the weeds but this is a theory long held by mercantilists and Keynesians. The Keynesian economists were and are the dominant school in the Western world. So when Britain was experiencing a "balance of payments problem" in the 1970s this was bad supposedly. The article above will explain what the so-called balance of payments problem is.

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