Tracing the roots of this financial ascendancy back to the 18th and 19th centuries, the authors highlight how early industrialists were excluded from circles of wealth and power due to class prejudice, a legacy that persisted well into the 20th century. This enduring bias has allowed the free movement of capital to take precedence over the funding and restructuring needs of industry, contributing to Britain's decline as a manufacturing economy compared to other developed capitalist nations.
Continuous modernization is a pre-requisite for the survival and development of an industrial economy, and the authors describe in detail the many initiatives and movements throughout the 20th century which were rendered ineffective, because the proponents were unable to secure the support of government and financial institutions.
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