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GOVERNMENT VERSUS the MARKET
The Growth of the Public Sector, Economic Management and British Economic Performance, c. 1890–1979
9781852780319 Edward Elgar Publishing
In Government Versus the Market, Roger Middleton provides a comprehensive, interdisciplinary and controversial analysis of how Britain’s relative economic decline from the late nineteenth century onwards generated an intense debate about the legitimate roles of government and the market.
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Critical Acclaim
Contents
More Information
In Government Versus the Market, Roger Middleton provides a comprehensive, interdisciplinary and controversial analysis of how Britain’s relative economic decline from the late nineteenth century onwards generated an intense debate about the legitimate roles of government and the market.
After a thorough analysis of Britain’s long-run economic performance in a comparative context, which emphasizes how the problem of decline is frequently misunderstood, and an account of the long-run forces promoting and constraining government growth, he then charts how the economic role of government evolved in response to decline but produced a mix of macroeconomic and microeconomic policies which proved inadequate for the task.
This major study emphasizes the institutional and political constraints to economic modernization and uses the specific characteristics of Britain’s predicament, a combination of market failure and impotent state, to explain why by 1979 the burgeoning New Right were able to launch an attack upon big government. Dr Middleton then demonstrates how Britain’s subsequent economic performance, while brilliantly propagandized as an economic renaissance, has in fact been lacklustre and why the Conservatives’ economic strategy failed to address the underlying problems of decline and to reduce the size of the public sector. Government versus the Market brings an unrivalled historical, empirical and theoretical breadth to our understanding of the last century of British economic history as well as a wealth of material on economic performance and public sector growth, and the fullest bibliography yet published on Britain’s economic decline.
Comprehensive, authoritative and wide-ranging, this extensive study uses a long-term and comparative framework which draws upon the latest research of economists, historians and political scientists to show why successive governments have been unable to halt Britain’s relative economic decline.
After a thorough analysis of Britain’s long-run economic performance in a comparative context, which emphasizes how the problem of decline is frequently misunderstood, and an account of the long-run forces promoting and constraining government growth, he then charts how the economic role of government evolved in response to decline but produced a mix of macroeconomic and microeconomic policies which proved inadequate for the task.
This major study emphasizes the institutional and political constraints to economic modernization and uses the specific characteristics of Britain’s predicament, a combination of market failure and impotent state, to explain why by 1979 the burgeoning New Right were able to launch an attack upon big government. Dr Middleton then demonstrates how Britain’s subsequent economic performance, while brilliantly propagandized as an economic renaissance, has in fact been lacklustre and why the Conservatives’ economic strategy failed to address the underlying problems of decline and to reduce the size of the public sector. Government versus the Market brings an unrivalled historical, empirical and theoretical breadth to our understanding of the last century of British economic history as well as a wealth of material on economic performance and public sector growth, and the fullest bibliography yet published on Britain’s economic decline.
Comprehensive, authoritative and wide-ranging, this extensive study uses a long-term and comparative framework which draws upon the latest research of economists, historians and political scientists to show why successive governments have been unable to halt Britain’s relative economic decline.
Critical Acclaim
‘Middleton provides a systematic set of historical and internationally comparative perspectives which will make his book a rich quarry for all teachers and students in the field. . . Middleton’s text is most likely to outstay other contenders in his field.’
– Eric Richards, Australian Economic History Review
‘This is a comprehensive, interdisciplinary and controversial analysis of how Britain’s relative economic decline from the late 19th century onwards generated an intense debate about the legitimate roles of government and the market. . . . There is a wealth of material on economic performance and public-sector growth, and a very complete bibliography on Britain’s economic decline.’
– International Review of Administrative Science
‘. . . a highly worthwhile contribution to the literature. Its sheer breadth of carefully employed source material makes it a valuable resource. Middleton has provided a text of interest to the advanced undergraduate and researcher alike, and against the sheer reach of his analysis over such volume he should be praised.’
– Paul Reynolds, Capital & Class
‘This is an unusual and innovative book . . . a great source of ideas for teaching and research, and Middleton is to be congratulated on his heroic exercise.’
– R. Millward, Economic History Review
‘. . . this is a most impressive book, providing a mass of information and argument, synthesising huge amounts of material in an accessible way. In short, this is a major contribution to twentieth century British economic history.’
– Jim Tomlinson, Contemporary British History
‘It is indeed an overwhelming book, bringing together a mass of material and organizing it into a coherent account of economic development and public policy.’
– Keith Tribe, The Manchester School
– Eric Richards, Australian Economic History Review
‘This is a comprehensive, interdisciplinary and controversial analysis of how Britain’s relative economic decline from the late 19th century onwards generated an intense debate about the legitimate roles of government and the market. . . . There is a wealth of material on economic performance and public-sector growth, and a very complete bibliography on Britain’s economic decline.’
– International Review of Administrative Science
‘. . . a highly worthwhile contribution to the literature. Its sheer breadth of carefully employed source material makes it a valuable resource. Middleton has provided a text of interest to the advanced undergraduate and researcher alike, and against the sheer reach of his analysis over such volume he should be praised.’
– Paul Reynolds, Capital & Class
‘This is an unusual and innovative book . . . a great source of ideas for teaching and research, and Middleton is to be congratulated on his heroic exercise.’
– R. Millward, Economic History Review
‘. . . this is a most impressive book, providing a mass of information and argument, synthesising huge amounts of material in an accessible way. In short, this is a major contribution to twentieth century British economic history.’
– Jim Tomlinson, Contemporary British History
‘It is indeed an overwhelming book, bringing together a mass of material and organizing it into a coherent account of economic development and public policy.’
– Keith Tribe, The Manchester School
Contents
Contents: Preface Part I: Introduction 1. Introduction 2. Government and Market: A Historical and Theoretical Survey 3. The Growth of the Public Sector: An Overview Part II: The Distintegration of the Old Synthesis, 1890–1914 4. The Performance of the Late-Victorian and Edwardian Economy 5. The Growth of Government: The Challenge to laissez-faire 6. Government, ‘National Efficiency’ and the Economy, 1890–1914 Part III: Creeping Collectivism, 1914–1939 7. The Performance of the Interwar Economy 8. War, Mass Unemployment and the Growth of Government between the Wars 9. The Origins of Modern Economic Management: Macroeconomic Potential and Microeconomic Failure Part IV: The Rise and Fall of Keynesian Social Democracy 1939-1979 10. The Performance of the Postwar Economy to 1979 11. The Consolidation of Big Government: The Market Eclipsed and the Growth of the Public Sector 1939–79 12. Postwar Economic Management and Policy Impact to 1979 Part V: Conclusions 13. Conclusions Notes Bibliography Indexes
