Management of the British Economy, 1945-2001

Since 1945 successive British governments have assumed broad responsibility for macro-economic performance. In particular, they have played an active role in managing the economy in the interests of securing high employment, economic growth and low inflation, with their approach evolving in response to changing economic circumstances, intellectual shifts and past policy failures. This book provides an overview of economic management, particularly financial management, over the period. It addresses the issues of how it has changed and why it has not always been successful. Adopting a chronological approach, each chapter examines the economic problems faced by the various governments, the policies that were introduced, the problems they faced when implementing them and how the approach to policy-making changed. It also examines the conduct of policy-making, as there is a widespread consensus that until recently short-run economic management could have been more successful than it was. Clearly and authoritatively written, it will appeal to anyone with an interest in economic affairs and will be of particular benefit to students of economics, politics and contemporary history.