Britain came out of the Second World War as an obsolescent industrial economy with grievous weaknesses. Instead of first devoting all possible resources and effort to remedying this, she chose to load this economy with the vast and potentially limitless cost of the welfare state; current expenditure before capital investment; the patterns of the next thirty years.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "Britain came out of the Second World War as an obsolescent industrial economy with grievous weaknesses. Instead of first devoting all possible resources and effort to remedying this, she chose to load this economy with the vast and potentially limitless cost of the welfare state; current expenditure before capital investment; the patterns of the next thirty years." in the context of "'The Audit of War: Britain as an Industrial Society 1939–45', Journal of the Royal Society of Arts, Vol. 134, No. 5364 (November 1986), p. 788" to mean that wisdom is timeless.