Neo-liberalism and New Labour policy: economic performance, historical comparisons and future prospects |
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Authors: | Wilkinson Frank |
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Institution: | * Birkbeck, University of London |
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Abstract: | The paper analyses19760/70s inflation, the replacement of Keynesianwith neo-liberal economic policy, and the post-1979 declinein inflation. It is shown that the fall in inflation is explainedby trends in import prices rather than by switches in economicpolicy. However, New Labour's conversion to neo-liberalism meansthat no alternative to it is on political offer, despite returnsto pre-Keynesian policy-making, the success of which will dependon price policies based on an understanding of the institutionalroots of inflation. |
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Keywords: | distribution import prices incomes policy inflation |
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