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Politics and Economic Policy in the UK Since 1964
The Jekyll and Hyde Years
- 1st Edition - January 1, 1978
- Author: Michael J. Stewart
- Language: English
- Paperback ISBN:9 7 8 - 0 - 0 8 - 0 2 2 4 6 9 - 5
- eBook ISBN:9 7 8 - 1 - 4 8 3 1 - 3 6 5 6 - 1
Politics and Economic Policy in the UK since 1964: The Jekyll and Hyde Years examines the economic policies that have been pursued by successive governments in Britain since 1964… Read more
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Request a sales quotePolitics and Economic Policy in the UK since 1964: The Jekyll and Hyde Years examines the economic policies that have been pursued by successive governments in Britain since 1964 and how such policies have been influenced by two sets of factors: politics and Keynesian demand management. The two basic failures of British economic policy since 1964 are highlighted, namely, the failure to establish a workable long-term incomes policy and the failure to achieve a high and stable rate of industrial investment. This book is comprised of seven chapters and begins with a background on the British economy until 1964, with emphasis on the economic problems faced by the country, including rising prices. The four basic objectives of economic policy to which both Labor and Conservative parties subscribe—full employment, a reasonably rapid growth rate, stable prices, and a satisfactory balance of payments—are discussed. The next chapter focuses on the Labor Party's 1964 Election Manifesto and how the economy fared from October 1964 to March 1966. Subsequent chapters evaluate the economic policies of the Labour government during the period April 1966-June 1970, including devaluation and incomes policy; economic policies adopted by the Conservative government from June 1970 to February 1974; and the country's economic situation since February 1974. The final chapter considers four factors—structural, technical, managerial, and political—that were responsible for much of what went wrong with the British economy since 1964. This monograph will be of interest to economists, political scientists, politicians, and economic policymakers.
Preface
Chapter 1: Introduction
Chapter 2: The Ebb Tide: Background to 1964
Economic Problems
Party Objectives
Manipulating Demand
Labor after 1959
Election Year
Chapter 3: Great Expectations: October 1964-March 1966
Labor's Hangups
The Balance of Payments
No Devaluation
Alternative Courses of Action
Labor and the City's Hangups
The Department of Economic Affairs
Incomes Policy
The Growth Problem
Neddy and the National Plan
On the Tightrope
Unhappiness in the Unions and on the Left
Heath Replaces Home
Maneuvering towards the next Election
'You Know Labor Government Works'
Chapter 4: The Light That Failed: April 1966-June 1970
Selective Employment Tax
The Seaman's Strike
The July Measures
Reactions to the July Measures
EEC: Second Shot
The Bumpy Road to Devaluation
Reactions to Devaluation
Two Years' Hard Slog
In Place of in Place of Strife
Industrial Policy
Regional Policy
The Distribution of Income and Wealth
The Incomes Policy and the Wage Explosion
The Emergence of Selsdon Man
The 1970 General Election
Chapter 5: Pride And Prejudice: June 1970-February 1974
A New Style of Government
Museum Charges
The Industrial Relations Act
The Demon Barber
Some Reflation
Lame Ducks and Roosting Chickens
A Lot More Reflation
Doubts about Fine Tuning
Floating
EEC: Third Time Lucky?
Inflation and the Evanescent Phillips Curve
The Monetarist Solution
Back to a Statutory Incomes Policy
1973 — Annus horribilis
The Oil Crisis
The Second Miners' Strike
The Inconclusive Election
Chapter 6: Desperate Remedies: Since February 1974
The Economic Problem
New Cambridge
Another Budget, Another Election
The Disintegrating Social Contract
Thatcher Replaces Heath
Getting through the Referendum
Back to Incomes Policy
The New Industrial Strategy
Public Affluence and Private Squalor?
Future Uncertain
Chapter 7: Some Concluding Remarks
Structural Factors
Technical Factors
Managemental Factors
Political Factors
Sources and References
Abbreviations
Statistical Appendix
Index
- No. of pages: 280
- Language: English
- Edition: 1
- Published: January 1, 1978
- Imprint: Pergamon
- Paperback ISBN: 9780080224695
- eBook ISBN: 9781483136561
MS
Michael J. Stewart
Affiliations and expertise
Consultant ScientistRead Politics and Economic Policy in the UK Since 1964 on ScienceDirect