Decline of the British Empire started well before the 1970s. More like 1850s +
Think railroads, shipbuilding and textiles. Decline of all three industries had very little or nothing to do with labour laws which did not exist back then.
Victorian era was the height of bloody minded arrogance and free for all take everything. Some people still believe the charge of the light brigade was a victory proving cavalry alone could take out gun placements.
I'm amazed that this banking fiasco - as a consequence of emulating the American free market model is perceived as such a big issue in perspective to the WWars and great depression etc.
Lack of good investment and management. Leaders management set the trends and labour follows. We've gone through trade union power abuse to management bonus, numeration and risk abuse and we can all see where the greater wreckage lies.
That patriotic Maggie twit sold BL short for 500m subsidy whilst allowing the police to import BMW bikes and cars to take their place. I'm absolutely shocked and stunned by the wreckless, ill thought out daft interpretation of economic history.
No one mentions the oil shock, prices going up and lack of strategic planning or decent management.
Invest billions in Concorde (sold all of about 8 planes; 4 to UK and 4 to France) and starve BL of funds whilst Japanese invest in new models, plants and processes.
I've spent my studies on the economics of Milton.F and disastrous policies of Mrs.T
Yes the trade unions were required to be dealt with but a much better model existed for TU and Banking in Germany. Monumental stuck up management and flag waving is what we have in the UK.
Where's the bucket
PS. EU is not at the end road. Just on a revision course for the better. We'd do well to follow and adhere to the Germans imho.