The Political Economy Of Industrial Strategy In The Uk

Industrial strategy has been back on the agenda of UK policy elites since the 2008 financial crisis. How should we understand this shift? This collection of essays by leading academics and practitioners including Victoria Chick, Kate Bell, Simon Lee, Karel Williams, Susan Himmelweit, Laurie Macfarlane and Ron Martin - among many others- considers the effectiveness of recent industrial policies in addressing the UK's economic malaise. In offering a broad political economy perspective on economic statecraft and development in the UK, the book focuses on the political and institutional foundations of industrial policy, the value of "foundational" economic practices, the challenge of greening capitalism and addressing regional inequalities, and the new financial and corporate governance structures required to radicalize industrial strategy.

This book presents a detailed analysis of contemporary industrial policy in Britain. After an introduction to the nature of industrial policy, a number of different views about the role of the state in relation to industry and the economy are examined. A discussion of the major characteristics of the UK's industrial structure follows, concentrating on the most significant debates over the last 15 years. The parts played by political parties and the major organized interests in developing various industrial policies are dissected. There is a detailed examination of major areas of contempory industrial policy, including privatization, monopolies and mergers, regional policy, small business and local initiatives. The book concludes by posing the question, could policy-makers have done better?

Describing key political and economic decisions or events, this book discusses Britain's economic decline in the post war period. It offers an alternative approach to improving its performance, known as the strategic alignment of national and corporate competitiveness.

In the aftermath of the debt crisis, disappointment with the results of structural adjustment policies is leading to a reappraisal of theories of economic development and industrialization strategies. This book comprises a collection of essays on economic development.

The book provides a comprehensive discussion of the controversial issue of industrial policy, drawing on some recent developments in economic theory in areas like political economy, institutional economics, industrial economics, and theories of technical progress. By integrating the analyses of political economy, economic institutions, and technical change into a single framework, the book offers policy conclusions which are of direct relevance to policy-makers. Drawing on the cases of Japan and Korea, the book also explores the economic and political conditions for the conduct of a successful industrial policy.

The Political Economy of Competitiveness offers an original perspective on the relationship between economic theory and policy. It places the issues within an accessible political economy perspective. Rejecting the narrowness of mainstream economics the authors deploy an interdisciplinary approach to the problem of economic growth, placing it in its historical and political context. Issues covered include: * trade theory and policy * industrial decline and policy * markets, competition and innovation * globalisation, unemployment and government policy. The book provides a valuable guide to the major economic policy issues for both economists and business students.