Article: A royal joke after a hard day's work

THE STORY of the week may not be such bad news for the Royal Family as is being popularly supposed. For there are powerful historical reasons to believe that the new relationship that is evolving between the royals and the British people is one which has in the past been the most comfortable and, in economic terms, the most successful.

We have somehow gone back to an 18th and early 19th century monarchy. The key point here is that the country's greatest period of relative economic success was from the late 1600s to around 1860. For example, in the 1690s British living standards were not materially higher than they were in its closest neighbour, France. Amsterdam, not London, was still the ...

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