Ideas and Economic Crises in Britain from Attlee to Blair (1945-2005) (Routledge Explorations in Economic History)

During the period from 1945 to 2005, Britain underwent two deep-seated institutional transformations when political elites successfully challenged the prevailing wisdom on how to govern the economy. Attlee and Thatcher were able to effectively implement most of their political platforms. During this period there were also two opportunities to challenge existing institutional arrangements. Heath's 'U-turn' in 1972 signalled his failure to implement the radical agenda promised upon election in 1970, whilst Tony Blair's New Labour similarly failed to instigate a major break with the 'Thatcherite' settlement. Rather than simply retell the story of British economic policymaking since World War II, this book offers a theoretically informed version of events, which draws upon the literatures on institutional path dependence, economic constructivism and political economy to explain this puzzle. It will be of great interest to both researchers and postgraduates with an interest in British economic history and the fields of political economy and economic crisis more widely. Continuity And Change In British Economic Policymaking -- Crisis, Ideas, And Path Dependence : Theoretical Framework And Postwar Britain's Changing Political Economy -- Clement Attlee's Postwar Settlement (1945-1970) : Depression, War, Keynes, Beveridge And A New Consensus -- Relative Decline And The Unravelling Of Consensus (1959-1979) : From Having It So Good To The Winter Of Discontent -- Margaret Thatcher's Triumph (1975-1990) : Inflation, Hayek, And The Overhaul Of The British State -- Thatcherism's Flaws And Tony Blair's Consolidation (1987-2005) : From The Lawson Boom To New Labour's New Britain -- Conclusion : Made In Britain -- Postscript : Gordon Brown, The Great Recession, And The Future Of Neoliberalism. Matthias Matthijs. Includes Bibliographical References (p. [236]-251) And Index. Continuity and change in British economic policymaking Crisis, ideas, and path dependence : theoretical framework and postware Britain's changing political economy Clement Attlee's postwar "settlement" (1945-1970) : depression, war, Keynes, beveridge and a new consensus Relative decline and the unravelling of consensus (1959-1979) : from "having it so good" to the "winter of discontent" Margaret Thatcher's triumph (1975-1990) : inflation, Hayek, and the overhaul of the British state Thatcherism's flaws and Tony Blair's consolidation (1987-2005) : from the Lawson boom to new labour's "new Britain" Conclusion : made in Britain postscript bibliography. During the period from 1945 to 2005, Britain underwent two deep-seated institutional transformations when political elites successfully challenged the prevailing wisdom on how to govern the economy. Why were Heath & Blair unsuccessful in their attempts to refashion Britain, when Atlee & Thatcher implemented most of their reforms? "Rather than simply retell the story of British economic policymaking since World War II, this book offers a theroetically informed version of events, which draws upon the literatures on institutional path dependence, economic constructivism and political economy to explain this puzzle."--Publisher's description