Kongfucius said:
In short, businesses might not be stupid, but they are extremely self-centred, and that can cause harm to the economy over the long term |
None of what you stated really makes sense.
Your premise is, British Industry lost it's prominence because British factories selfishly refused to upgrade, and therefore lost buisness.
Can you not see the illogical line of thinking in there?
I have a couple of questions
1) Why didn't they have incentive to make sure they could compete internationally? Your arguement seems to be they selfishly ran themselves out of buisness for selfish reasons. Why was it that Brtish factories didn't have to compete? (For half a century)
2) Why was it that other factory owners in places like Germany and the US receive no government money but DID upgrade their factories?
I know the answers to this, but I want to see if you do, or at least have a clue. Otherwise writing a giant wall of text on how economies have changed since the 1920's, tarrifs, the british empire et al, would be a huge waste of time.