Deindustrialisation and economic growth

The economic decline experienced by the UK was most noticeable during the 1950s and 1970s. However, a more optimistic assessment of the UK economy was given in the 1980s due to changes in the supply-side policy and apprehensions of its long-run implications. Studies in growth economics have shed light on what went wrong during the 1970s and the implications of what transpired in the 1980s. It was concluded that a limited reversal in the decline may have been due to the Thatcherite reforms in the 1980s. Deindustrialization has been found to be important in itself.