1950s: Economically, Great Britain was devastated by World War II. Homes, factories, railroads, docks, and other facilities had been destroyed by the German air force. Rationing of bread, meat, sugar, and gasoline continued well into the postwar period. Formerly a creditor, or lending nation, Great Britain for the first time in its history became a debtor nation.
Today: Great Britain has regained economic stability, though not the economic power it had enjoyed before World War II. The discovery of oil in the North Sea and membership in the...
