THE MODERN ECONOMY OF GREAT BRITAIN - Студенческий научный форум

XI Международная студенческая научная конференция Студенческий научный форум - 2019

THE MODERN ECONOMY OF GREAT BRITAIN

Хоменко Е.А. 1, Скрипченко С.Н. 1
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During its heyday in the 19th century, the British Empire occupied one fourth of the land. As a result of the redistribution of the world during the two world wars, it lost a significant part of its colonial territories. However, in the second half of the 20th century, the GDP of Great Britain again made the country one of the most developed. The United Kingdom has become the founder of many modern international organizations. From 1973 to 2016, the United Kingdom was an active member of the European Union. The United Kingdom plays a significant role in the global economy. It produces about 3% of the global gross domestic product at purchasing power parity.

Agriculture is intensive, highly mechanized and efficient by European standards. With employment only 2% of the labor force, this sector satisfies 60% of the country's food needs. The population of the UK is over 64 million people. On the territory of the country there are deposits of coal, natural gas and oil. However, these reserves are quickly depleted. Since 2005, the United Kingdom has been a net importer of energy resources. The importance of industry is gradually decreasing. To date, this area is already responsible for only 20% of UK GDP. Fewer young people want to work in this industry. The future of the UK economy is most likely related to the services sector, namely its financial segment. The economic crisis and exit from the EU hit the national economy of Great Britain badly.

The current economic situation in the country is worrying a large number of British people, especially they worry about unemployment, the closure of factories, the decline in industrial production, inflation, prices and taxes. There is a perception that the government can do more to reduce unemployment and invest capital in industry. Retention of job became the main criterion for its choice: it worries the unemployed much more than self-affirmation at the workplace and working conditions. However, polls showed that 82% of employees are confident in the safety of their workplace, and only 10% are seriously concerned about this problem.

However, the majority of the population believes that the interests of owners and employees in the UK do not coincide. They believe that the country's wealth is distributed unfairly, and that poor employees suffer from this injustice, while wealthy owners are getting rich.

The number of people who support the idea that employees need to be given more freedom to make decisions and control over the organization in which they work is constantly growing.

Critics object that the UK economy suffers mainly from cultural factors, that traditionally educated and qualified people do not work in industry and trade, that the UK labor force loses to other countries in labor productivity, that not enough capital is attracted to the industrial sector of the economy, that management staff is weak and not professional and that too little money is invested in the development of science and technology.

Электронные ресурсы

https://www.internations.org/great-britain...economy.../the-ec...

https://www.worldatlas.com/.../the-economy-of-the-united-ki...

https://ig.ft.com/sites/numbers/economies/uk

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