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Articles

Contents

Page 47 of 47

Research Article

  • Recession and Economic Revival in Britain: The Role of Policy in the 1930s and 1980s

  • Michael Kitson
  • Journal:
    Contemporary European History / Volume 8 / Issue 1 / 1999
    Published online by Cambridge University Press:
    01 March 1999, pp. 1-27

  • During the 1980s economic policy in the UK increasingly embraced free-market economics. For many, this was a necessary shift which improved economic performance, whereas previous periods of increased intervention, such as the 1930s, had harmed the UK economy. This article takes an alternative perspective. It argues that economic revival in the 1930s was primarily policy-induced; whereas economic growth in the 1980s can be largely explained by the unintentional demand side-effects of policy, with many of the free-market policies having, at best, a neutral impact and, in some cases, harming the long-run growth potential of the economy.

Page 47 of 47