An immediate consequence of Britain’s austerityinduced downturn was the wave of economic coercion that overtook British workers. Amid rising unemployment, organized labor lost much of its political power. By the end of the decade, only onefourth of the working population was unionized, down from almost 40 percent aft er the Great War (see fi gure 9.4).

Clara E. Mattei, The Capital Order, loc. 1503