I think let's not forget that at the start of the period they mention, the UK (and British Empire) as a share of world GDP was larger than the US is today. It was clearly never going to be able to sustain that position.
Let's also not forget that the country effectively bankrupted itself during WWII. Investment from the Marshall Plan was basically used to prop up the currency which ultimately failed. There were 'balance of payments' crises well through into the 1970s when Bretton Woods collapsed.
Let's also not forget that the country effectively bankrupted itself during WWII. Investment from the Marshall Plan was basically used to prop up the currency which ultimately failed. There were 'balance of payments' crises well through into the 1970s when Bretton Woods collapsed.