Wednesday 1 October 2008
What do you call a country with a thriving financial services sector and everything else rusting and obsolete? England. The City of London has been a leading provider of financial services worldwide for the last couple of centuries. During this period the rest of the country has lost its empire, lost its military power, lost its leadership position in scientific and engineering research, lost its leadership in manufacturing, and suffered from slow economic growth compared to its European neighbors. Philip Greenspun ☀
