The financial and economic condition of England

Introduction

England is the 6th largest economy in the world in 2010 according to nominal GDP (current prices, US dollars) and the 8th largest in the world according to GDP (PPP). In 2010, England's GDP (PPP) was US$2.172 trillion or 2.982 percent of the world's GDP. England is a country of services. Agriculture accounts for just less than 1% of GDP and is home to just over 1% of the population. The industry accounts for 23% of GDP and services account for 76% of GDP and employs 81% of the workforce. The current financial and economic conditions of England are the series of social arrangements and physical processes by which human societies produced the material conditions of human life since the emergence of the human species. Although much of the discipline is devoted to the study of the development of modern economic growth. The reason for this is that modern economic growth brought with it sustained and accumulating increases in the per capita wealth of human societies. Before modern economic growth, any improvement in productivity led to an increase in the population, not an increase in the standard of living (Darby, pp.123).

Discussion

The economy of England was transformed by the Industrial Revolution. This spread to the European continent a generation later. Under the hegemony of the England, there was a dramatic spread of modern economic growth throughout much of the world, in individual countries, in some colonies, and in an international economy with global capital markets, railroad construction, and a global cotton textile market. The financial and economic condition of England has sought to explain why the Industrial Revolution took place in Western Europe and why it began on the small islands of England (Darby, pp.127).

England does not have good natural conditions for agricultural development, but the progress of the green revolution has made this sufficiently profitable sector in the modern economy. Commercial farms tend to be large, more than 50 hectares, although there are many small farms engaged in part-time farming. Holdings below 5 hectares are concentrated mainly in Wales and Northern Ireland. The main crops are cereals (wheat and oats) that are not only linked to the food industry if not, well, the whiskey.

Livestock is given great importance. It is very common the integration of agriculture and livestock. These are generally large farms, as modern farms are expensive to install. In addition, much of the farm is dedicated to providing forage for livestock. The cattle are concentrated in western England, southern Scotland and south-east Wales and Northern Ireland. The sheep is raised in the semi-extensive system in the uplands of Wales, Scotland and England.The pig is concentrated in England, especially Yorkshire-Humbershire and East Anglia. Nevertheless, the country has to import beef, so it must import much of what it consumes (Morris, 435).

The industry is very modern and includes all modern productive sectors. The industry sector emphasizes textiles, iron and steel, shipbuilding, chemical and electronics technologies. The food industry exports beer and whiskey. Industrial regions have ...