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.
|Translated title of the contribution||The transformation of the economy|
|Title of host publication||A Companion to Contemporary Britain, 1939-2000|
|Editors||Paul Addison, Harriet Jones|
|Pages||180 - 202|
|Number of pages||22|
|Publication status||Published - 2005|