This book introduces Britain's 20th-century economic performance to readers without an economics background. Alan Booth combines narrative with a conceptual and analytical approach to review the British economy. He discusses why Britain's position in the world has slipped over the course of the century and whether relative decline might have been reversed. Particular attention is paid throughout to the impact of long-run forces on economic performance. Key themes include economic growth and welfare, the working of the labor market, and the performance of entrepreneurs and managers.