Just as the 1929 Stock Market Crash discredited Classical economic theory and policy and opened the way for Keynesianism, a consequence of the collapse of confidence in financial markets and the banking system - and the effect that this has had on the global macro economy - is currently...

The decline of British industry, along with monetarism, economic liberalization and the rise of the financial sector are popularly associated with the 1980s and Margaret Thatcher's Conservative government. But British industry had already passed its peak nearly a century before. Unregulated...

Liberalized global financial markets are nothing new. A review of the history of financial markets reveals much about their tendency to liberalize and globalize, their inherent instability and their surprising persistence, despite recurring crises. However, it is also important to recognize that...

This paper examines the current role of the capital market and its effects, not only on operating companies, but also on society. We describe the growth of ‘worker capital' in the world's financial markets and with it, the emergence of potential conflicts of interest among shareholder groups....

The corporate governance environment in the UK and US is generally thought to be hostile to the emergence of cooperative employment relations of the kind exemplified by labour-management partnerships. We discuss case-study evidence from the UK which suggests that, contrary to this widespread...

This paper reviews the foundations of New Labour's economic policies and the performance of the economy since 1997. It argues that New Labour's policies have evolved from Thatcherism and that it has largely embraced the tenets of neo-liberalism. New Labour has rejected most aspects of...

The paper analyses 19760/70s inflation, the replacement of Keynesian with neo-liberal economic policy, and the post-1979 decline in inflation. It is shown that the fall in inflation is explained by trends in import prices rather than by switches in economic policy. However, New Labour's...