In just two days, King Charles III will be officially crowned as the new monarch of Great Britain, succeeding his mother Queen Elizabeth II. The coronation is set to be a grand spectacle, complete with all the traditional pomp and circumstance that British royal ceremonies are known for. However, beneath the glitz and glamour of the coronation lies a harsh reality—Great Britain's economic stagnation and declining influence in the world.
Since the 2008 financial crisis, Great Britain has struggled to regain its economic footing. While the country did manage to avoid a full-blown recession, growth has been sluggish and uneven. GDP per capita has only recently recovered to pre-crisis levels, and productivity growth has been stagnant for years. A piece in the Financial Times highlights this, with a stark graph showcasing a complete leveling in productivity growth since the financial crisis.
A moral reckoning, too, continues in the U.K. An influx of migrants from around the world since the 1970s, the spread of wokeness across the pond, and the country’s exit from the EU have left the country at a crossroads. Most tragically, it has joined the rest of the Western World in tearing down traditional institutions and values in the name of equality and democracy.
It was a popular notion, once upon a time, that "the sun never sets on the British Empire," as the vast reach of the Imperial British throne spread throughout the world. However, since World War II, the country has faced economic stagnation and declining influence across the globe. The late Queen Elizabeth II presided over this period of decline and stagnation, leaving behind a country struggling to redefine its place as it prepares to coronate her successor…