Industrial production, which had grown at an annual rule of
Citations (1)
- The Rise and Fall of the Great Powers whole source · open book
Industrial production, which had grown at an annual rule of about 4 percent in the period 1820 to 1840 and about 3 percent between 1840 and 1870, became more sluggish; between 1875 and 1894 it grew at just over 1.5 percent annually, far less than that of the country’s chief rivals. This loss of industrial supremacy was soon felt in the cutthroat competition for customers.
chapter: The Position of the Powers, 1885–1914