Managing the British Economy in the 1960s: A Treasury Perspective


Book Description

In Managing the British Economy in the 1960s Sir Alec Cairncross, who was Economic Adviser to HMG in 1961-64 and Head of the newly-created Government Economic Service in 1964-69, tells the inside story of the making of economic policy under four Chancellors of the Exchequer between 1960 and 1970, first under a Conservative government then under a Labour government. He describes how the Treasury dealt with a whole succession of crises and experimented with many new departures of policy over the decade: for example, the efforts to engage in long-term planning, form a workable incomes policy, make use of new taxes for new purposes and enter the European Community. In parallel with the 1990s, the story is dominated by the effort to avoid devaluation followed by the struggle to make it work and keep the pound from sliding further.




Managing the British Economy


Book Description

First published in 1968 Managing the British Economy attempts to trace the development of what has passed for economic planning in Britain in the 1960’s and, at the same time, to observe the activities of those engaged in the operation and the effect of their actions on business and industry. In writing this book, the author has had in mind the difficulties of businessmen in keeping track of ‘who does what’ in the Economy. Experience in industry and in the field of management education has shown him that managers often have difficulties in placing their own operations in the national context and he attempts here to help the reader understand how the system works in practice. How do the new arrangements tie in with the old? How does any government influence the running of the economy? What kind of system are we moving towards? This is a must read for scholars and researchers of British economy and economic history of Britain.




The Reinvention of Britain 1960-2016


Book Description

The Reinvention of Britain 1960–2016 explores the transformation of contemporary Britain, tracing its evolution from the welfare state of the post-1945 era to social democracy in the 1960s and 1970s and the liberal market society of 1979 onwards. Focusing primarily on political and economic change, it aims to identify which elements of State policy led to the crucial strategy changes that shaped British history over the past six decades. This book argues that since 1960 there have been two reinventions of the political economy of the United Kingdom: a social-democratic shift initiated by the Conservative government of Harold Macmillan and developed by Labour under Harold Wilson, and a subsequent change of direction towards a free market model attempted by the Conservatives under Margaret Thatcher. Structured around these two key policy reinventions of the late twentieth century, chapters are organized chronologically, from the development of social democracy in the early 1960s to the coalition government of the early 2010s, the Conservative election win that followed and the ‘Brexit’ referendum of 2016. Providing a comprehensive yet accessible introduction to the political and economic history of this period, The Reinvention of Britain 1960–2016 is essential reading for all students of contemporary British history.




An Affluent Society?


Book Description

During an election speech in 1957 the Prime Minister, Harold Macmillan, famously remarked that 'most of our people have never had it so good'. Although taken out of context, this phrase soon came to epitomize the sense of increased affluence and social progress that was prevalent in Britain during the 1950s and 1960s. Yet, despite the recognition that Britain had moved away from an era of rationing and scarcity, to a new age of choice and plenty, there was simultaneously a parallel feeling that the nation was in decline and being economically outstripped by its international competitors. Whilst the study of Britain's postwar history is a well-trodden path, and the paradox of absolute growth versus relative decline much debated, it is here approached in a fresh and rewarding way. Rather than highlighting economic and industrial 'decline', this volume emphasizes the tremendous impact of rising affluence and consumerism on British society. It explores various expressions of affluence: new consumer goods; shifting social and cultural values; changes in popular expectations of policy; shifting popular political behaviour; changing attitudes of politicians towards the electorate; and the representation of affluence in popular culture and advertising. By focusing on the widespread cultural consequences of increasing levels of consumerism, emphasizing growth over decline and recognizing the rising standards of living enjoyed by most Britons, a new and intriguing window is opened on the complexities of this 'golden age'. Contrasting growing consumer expectations and demands against the anxieties of politicians and economists, this book offers all students of the period a new perspective from which to view post-imperial Britain and to question many conventional historical assumptions.




The Great Inflation


Book Description

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.




Policy Learning and British Governance in the 1960s


Book Description

Why did Britain's economic policy revolution in the 1960s achieve so little? Drawing on the latest political science theories of policy networks and policy learning, Hugh Pemberton outlines a new model of economic policy making and then uses it to interrogate recently-released government documents. In explaining both the radical shift in policy and its failure to achieve its full potential, this book has much to say about the problems of British governance throughout the whole of the postwar period.




British Economic Growth, 1270–1870


Book Description

This is the first systematic quantitative account of British economic growth from the thirteenth century to the Industrial Revolution.







Governing Post-War Britain


Book Description

Glen O'Hara draws a compelling picture of Second World War Britain by investigating relations between people and government: the electorate's rising expectations and demands for universally-available social services, the increasing complexity of the new solutions to these needs, and mounting frustration with both among both governors and governed.




Managing the Economy, Managing the People


Book Description

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 onwards 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.