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 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 He
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- © Pergamon 1978
- 1st January 1978
- eBook ISBN: