Two Hundred Years of Muddling Through

The UK is, at the same time, both one of the world's most successful economies and one of Europe's laggards. In terms of GDP per head it is a world leader but productivity levels (even before the last decade) were abysmally low compared to its advanced economy peers. The country contains some of the Europe's richest areas but also some which are more akin to the poorer areas of Southern Europe than the more affluent parts of Germany or France. It's really not much of an exaggeration to describe the UK, in economic terms, as 'Portugal but with Singapore in the bottom corner'. Opening with the B…

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