"The abandonment of free trade during World War I coincided with the beginning of Great Britains economic decline. Freedom to trade had been the strongest pillar of Britains general free-market policy. When that pillar fell, the doorway opened to socialist measures of all kinds. British history in the 20th century is essentially one of almost continually expanding government control of the economy, and an equal decline in Great Britains power and influence in world affairs."
The evidence is definitive that the decline wasn't caused by abandonment of free trade policies...but had already happened while the British were fully under the sway of free trade zealots who infested the bureaucracy...and when the evidence came that the UK's industrial infrastructure was being seriously wounded by predator nations, they did start shifting gears at the turn of the century...but they didn't fully implement an industrial restoration policy until they were already in the midst of WW-I. And it was seriously compromised by the dependancies that the zealots had blithely promoted as "strengths." The decline was caused by predators isolating industries as targets of opportunity, and then denying Great Britain its broad mass markets. Great Britain lost its economies of scale previously enjoyed. At this point, they were already a "Dead Industrial Empire Walking." The belated, and fitful modest implementations of protections were "too little, too late."
Nice tap dance. Let's look at how badly that sway of free trade impacted the British economy before the protectionist zealots killed the economy. This is from historian Paul Kennedy (PhD from Oxford and author of The Rise and Fall of Great Powers).
Yeah, all that free trade was just killing them before they became of bunch of ignorant protectionists. If Thatcher and her free market reforms hadn't saved them, they'd still be the basket case of Europe.