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The transformation of the economy

Research output: Chapter in Book/Report/Conference proceedingChapter in a book

Original languageEnglish
Title of host publicationA Companion to Contemporary Britain, 1939-2000
EditorsPaul Addison, Harriet Jones
Publisher or commissioning bodyBlackwell Publishing
Pages180 - 202
Number of pages22
ISBN (Print)0631220402
StatePublished - 2005

Abstract

Undergraduate-level introduction to the transformation of the British economy since 1939. Argues that the Thatcherite view of the period 1945-79 as one of failure is not borne out. However, Britain did fail to develop the necessary institutions to support a Keynesian social democratic economy and stem its relative economic decline. After 1979 this problem was addressed, but via a neo-liberal solution that, whilst it reversed relative economic decline, may prove to have deleterious consequences in the long-term.

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