20 years, or 112 years?
Consider just how far the UK's place in the world fell between 1911 (George V ascended to the throne of the global superpower; his Royal Navy was launching 2 to 4 new capital ships per year) and 1948 (3 years after "winning" WWII - and basics such as food, clothing, and gasoline were still strictly rationed).
By comparison, the performance of the UK in the last 20 years vs the US or the Nordics is a singular tragedy.
There is the US not-an-Empire [0] though, that'll probably count when the history books reflect on the present era. WWI/II can very easily be interpreted as a transition of power away from incompetent British leadership (indeed, European monarchies - the change pre- post- WWI is striking) towards more capable US-based leadership.
It isn't clear UK public ever really grappled how insufficient their leadership theory is. Their acceptance of poor performers over the last 20+ years has been striking although it is mirrored by low standards in the US.
[0] https://en.wikipedia.org/wiki/List_of_American_military_inst...
https://ourworldindata.org/grapher/gdp-per-capita-worldbank?...
Its a Europe wide problem.
USSR was also terribly battered by WWII, and its leadership was not highly competent either; I'd say both parameters were much worse than UK's. But it managed to remain a large empire with a high economic potential, and UK could not.
The USSR moved all its industry eastward, as the German army advanced, waiting for the very last moment to do so. Quite an incredible feat that allowed them to beat Germany at industrial efficiency and secure victory.
https://en.wikipedia.org/wiki/Evacuation_in_the_Soviet_Union
Here's an analysis of the mechanisms underpinning this kind of achievement according to a Russian mathematician:
>One of the fathers of synergetics, G. Haken, in his article [9], recalls the following story from the Ancient Testament: “It was the custom in a certain community for the guests to bring their own wine to weddings, and all the wines were mixed before drinking. Then one guest thought that if all the other guests would bring wine, he would not notice when drinking if he brought water instead. Then the other guests did the same, and as the result they all drank water.”
>In this example, two situations are possible. In the first, everyone contributes his share, giving his equal part, and everyone will equally profit. In the second, each strives for the most advantageous conditions for himself. And this can lead to the kind of result mentioned in the story.
>Two different arithmetics correspond to these two situations. One arithmetic is the usual one, the one accepted in society, ensuring “equal rights,” and based on the principle “the same for everyone,” for instance in the social utopia described by Owen. In a more paradoxal form, this principle is expressed in M. Bulgakov’s Master and Margarita by Sharikov: “Grab everything and divide it up.”
>The aspiration to this arithmetic is quite natural for mankind, but if society is numerous and non-homogeneous, then it can hardly be ruled according to this principle. The ideology of complete equality and equal rights, which unites people and inspires to perform heroic deeds, can effectively work only in extremal situations and for short periods of time. During these periods such an organization of society can be very effective. An example is our own country, which, after the destructions and huge losses of World War II, rapidly became stronger than before the war.
>One of the authors personally witnessed such an atmosphere of psychological unity when he was working on the construction of the sarcophagus after the catastrophe of the Chernobyl nuclear facility. The forces of the scientists involved were so strongly polarized 2 that the output of each of them was increased tenfold as compared to that in normal times. During that period it was not unusual for us to call each other in the middle of the night.
>Nevertheless such heroism, self-denial, and altruism, when each wants to give (and not to take) as much as possible, is an extremal situation, a system that can function only for short intervals of time. Here the psychological aspect is crucial, everyone is possessed by the same idea — to save whatever may be saved at any cost. But the psychology of the masses, which was studied by the outstanding Russian emigr´e sociologist Pitirim Sorokin, is presently studied only outside of Russia.
Source: https://arxiv.org/pdf/0806.4164
Now the question is: to which extent and in which ways does this apply to the subject we're discussing.
Or failure to compete with startup banks...
Is number of war ships, or billionaires, a good measure for a country?
https://blog.nationalarchives.gov.uk/food-thought-rationing-...
I have read that the Empire was a fiscal net negative. That was offset by it being a free market area with policies that favoured the UK, the benefits from that went primarily to a small minority.
Better if they had let the Nazis won and ruled the UK? WTF?