Al Introduction -From Imperial Power to European Partner o The dominant economic philosophies in nineteenth century Britain were laissez-faire(non involvement of the government in business)and free trade o After World War l, britain initially established EF TA (European Free Trade Association) in 1950 along with other non-EEC European countries o Increasingly closer union between Britain and her European partnersA1 Introduction – From Imperial Power to European Partner ❖ The dominant economic philosophies in nineteenth century Britain were laissez-faire (non￾involvement of the government in business) and free trade. ❖ After World War II, Britain initially established EFTA (European Free Trade Association) in 1950, along with other non-EEC European countries. ❖ Increasingly closer union between Britain and her European partners