British Capitalism at the Crossroads, 1919-1932. Boyce<|

British Capitalism at the Crossroads, 19191932A Study in Politics, Economics, and International Relations\nAuthor(s): Robert W. D. Boyce\nFormat: Paperback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9780521124973, 978-0521124973\nSynopsis\nIn the aftermath of the First World War British politics were subordinated to the goal of reconstructing a multilateral trade and payments system. This decision must be understood as the result of the peculiar structure of British capitalism wherein mercantile and financial activity rather than manufacturing industry provided the core of wealth of the dominant community. For a decade, Britain made a signal contribution to the restoration of multilateralism. With the world at a turning-point in 1928, British policy remained committed to reform through multilateral action, particularly once the Labour party resumed office. But the practical effect of policy was the opposite of that intended. .