Depression and Decline? The British Economy 1870–1900
Commenting on the years 1873–86 the Royal Commission on the Depression in Trade and Industry attempted to identify the malaise which they believed existed in the British economy. ‘While the share of the aggregate wealth produced in the country which now falls to labour is larger than it was twenty years ago, a corresponding diminution has taken place in the share which now falls to capital: in other words while wages have risen profits have fallen.’
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