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Most historical accounts of economic policy set out to describe the way in which governments have attempted to solve their economic problems and to achieve their economic objectives. Jim Tomlinson, however, focuses on the problems themselves, arguing that the way in which areas of economic policy become ‘problems’ for policy makers is always problematic itself, that it is never obvious and never happens ‘naturally’. This approach is quite distinct from the Marxist, the Keynesian or the neo-classical accounts of economic policy, the schools of thought which are described and criticized in the introduction. Subsequent chapters use the issues of unemployment, the gold standard and problems of trade and Empire to demonstrate that these competing accounts all obscure the true complexities of the process. Because they adhere to simple assumptions about the role of economic theory or of ‘vested interests’ previous histories have been unable adequately to explain the dramatic change after the First World War in attitudes to unemployment, for instance, or the decision to return to gold in 1925. Jim Tomlinson surveys the institutional circumstances, the conflicting political pressures and the theories offered at the time in an attempt to discover the conditions which characterized the questions as economic problems and contributed to the choice of ‘solutions’. The result is a sophisticated and intellectually compelling account of matters which have remained at the forefront of political debate since its first publication in 1981.
Most historical accounts of economic policy set out to describe the way in which governments have attempted to solve their economic problems and to achieve their economic objectives. Jim Tomlinson, however, focuses on the problems themselves, arguing that the way in which areas of economic policy become ‘problems’ for policy makers is always problematic itself, that it is never obvious and never happens ‘naturally’. This approach is quite distinct from the Marxist, the Keynesian or the neo-classical accounts of economic policy, the schools of thought which are described and criticized in the introduction. Subsequent chapters use the issues of unemployment, the gold standard and problems of trade and Empire to demonstrate that these competing accounts all obscure the true complexities of the process. Because they adhere to simple assumptions about the role of economic theory or of ‘vested interests’ previous histories have been unable adequately to explain the dramatic change after the First World War in attitudes to unemployment, for instance, or the decision to return to gold in 1925. Jim Tomlinson surveys the institutional circumstances, the conflicting political pressures and the theories offered at the time in an attempt to discover the conditions which characterized the questions as economic problems and contributed to the choice of ‘solutions’. The result is a sophisticated and intellectually compelling account of matters which have remained at the forefront of political debate since its first publication in 1981.
Originally published in1985, Jim Tomlinson charters the route of British macroeconomic policy in the post-war era. This book argues that the objectives of macroeconomic policy have not been constant; that the emphasis has shifted from one item to another over time; and that this uncertainty and inconsistency over objectives goes a long way to explaining why macroeconomics management has not been a startling success.
This study offers a distinctive new account of British economic life since the Second World War, focussing upon the ways in which successive governments, in seeking to manage the economy, have sought simultaneously to "manage the people": to try and manage popular understanding of economic issues. In doing so, governments have sought not only to shape expectations for electoral purposes but to construct broader narratives about how "the economy" should be understood. The starting point of this work is to ask why these goals have been focussed upon (and differentially over time), how they have been constructed to appeal to the population, and, insofar as this can be assessed, how far the population has accepted these narratives. The first half of the book analyses the development of the major narratives from the 1940s onwards, addressing the notion of "austerity" and its particular meaning in the 1940s; the rise of a narrative of 'economic decline from the late 1950s, and the subsequent attempts to "modernize" the economy; the attempts to "roll back the state" from the 1970s; the impact of ideas of "globalization" in the 1900s; and, finally, the way the crisis of 2008/9 onward was constructed as a problem of "debts and deficits". The second part of the book focuses on four key issues in attempts to "manage the people: productivity, the balance of payments, inflation, and unemployment. It shows how, in each case, governments sought to get the populace to understand these issues in a particular light, and shaped strategies to that end.
This collection of essays is a plea for a renewal of policies based on the most fundamental ideas of Keynes as well as on recent developments in economic theory. The papers were first given at an international conference to commemorate the centenary of the birth of John Maynard Keynes.
In the momentous period -- barely 30 years -- covered by this systematic reference/guide, the Edwardian world was transformed unrecognisably, through war, technological progress and social change, into the Nuclear Age. It saw the coming of mass democracy, the apogee of empire, the Depression, the threat of fascism, the development of suburban society, and, as yet scarcely understood, the end of Britain's international hegemony. Andrew Thorpe's superb contribution to the Companions series illuminates all this and much else. It will be indispensable to anyone interested in the history and politics of modern Britain.
As a vigorous interpretation of political and social developments in Britain since the late-Victorian era, State and Society is one of the most respected and widely-read introductions to modern British history. Martin Pugh explores as his central theme the relationship between the British state and its citizens with characteristic skill and insight. In this new fifth edition, Pugh brings his final chapter on Crisis and Coalition right up to the result of the May 2015 general election. The text throughout has also been revised and extended to address themes such as women's history, social class, Scottish nationalism, the working of the monarchy and the British system of government, new perspectives on the history of the Labour Party, secularism and British attitudes towards Europe since the 1970s. Pugh explores these and other themes with perceptive and accessible prose, maintaining an ideal balance of socio-economic and political issues. Also including new images and annotated further reading lists, this new edition of State and Society reaffirms its position as an essential text for students of modern British history.
The Liberal Party and the Economy, 1929-1964 explores the reception, generation, and use of economic ideas in the British Liberal Party between its electoral decline in the 1920s and 1930s, and its post-war revival under Jo Grimond. Drawing on archival sources, party publications, and the press, this volume analyses the diverse intellectual influences which shaped British Liberals' economic thought up to the mid-twentieth century, and highlights the ways in which the party sought to reconcile its progressive identity with its longstanding commitment to free trade and competitive markets. Peter Sloman shows that Liberals' enthusiasm for public works and Keynesian economic management - which David Lloyd George launched onto the political agenda at the 1929 general election - was only intermittently matched by support for more detailed forms of state intervention and planning. Likewise, the party's support for redistributive taxation and social welfare provision was frequently qualified by the insistence that the ultimate Liberal aim was not the expansion of the functions of the state but the pursuit of 'ownership for all'. Liberal policy was thus shaped not only by the ideas of reformist intellectuals such as John Maynard Keynes and William Beveridge, but also by the libertarian and distributist concerns of Liberal activists and by interactions with the early neoliberal movement. This study concludes that it was ideological and generational changes in the early 1960s that cut the party's links with the New Right, opened up common ground with revisionist social democrats, and re-established its progressive credentials.
This book provides a comprehensive study on the development of the British economy from early eighteenth century onwards.