This book, written by a distinguished selection of academics and commentators, provides the most detailed comparison yet of old and new Labour in power.

British economic and industrial policy since 1979 is examined using a wide range of sources. Was this really «new», revival of earlier approaches or a rigorous extension of the IMF-imposed policies on the 1974-79 Labour Government? The question is asked: Was the creation of a large pool of unemployed labour necessary for reshaping the economy or was the aim to secure fundamental changes in the relations between capital and organised labour? Due to setbacks suffered by trade unions in the 1980s with factory closures and major job losses, the author questions Labour's motives in softening any meaningful opposition to the Conservatives, supporting ERM in 1990, reducing the role of trade unions in the Party itself and retaining key policies of the Thatcher era especially its trade union laws.

This book, written by a distinguished selection of academics and commentators, provides the most detailed comparison yet of old and new Labour in power. I

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.

We are constantly told that New Labour forms an historic departure from the traditions of the Labour Party. This book, written by a distinguished selection of academics and commentators, provides the most detailed comparison yet of old and new Labour in power. It is also the first to offer a comprehensive analysis of the last Labour Government before the rise of Thatcher and the re-emergence of the Labour Party under Tony Blair's leadership. It reveals much about the history of the Labour Party as well as providing a much-needed context from which to judge the current government.

The book considers Labour's economic strategy as it developed through the party's long period of opposition between 1979 and 1997. This history argues strongly that accounts of Labour's recent past which claim that the Party was driven by a combination of Thatcherism and opinion polls are flawed. It offers an alternative account which stresses the importance of debates within and around the Party about how the economy should be understood, the role of markets and the state, and British industrial decline.