This study offers a distinctive new account of British economic
life since the Second World War, focussing upon the ways in which
successive governments, in seeking to manage the economy, have
sought simultaneously to 'manage the people': to try and manage
popular understanding of economic issues. In doing so, governments
have sought not only to shape expectations for electoral purposes
but to construct broader narratives about how 'the economy' should
be understood. The starting point of this work is to ask why these
goals have been focussed upon (and differentially over time), how
they have been constructed to appeal to the population, and,
insofar as this can be assessed, how far the population has
accepted these narratives. The first half of the book analyses the
development of the major narratives from the 1940s onwards,
addressing the notion of 'austerity' and its particular meaning in
the 1940s; the rise of a narrative of 'economic decline from the
late 1950s, and the subsequent attempts to 'modernize' the economy;
the attempts to 'roll back the state' from the 1970s; the impact of
ideas of 'globalization' in the 1900s; and, finally, the way the
crisis of 2008/9 onwards was constructed as a problem of 'debts and
deficits'. The second part of the book focuses on four key issues
in attempts to 'manage the people': productivity, the balance of
payments, inflation, and unemployment. It shows how, in each case,
governments sought to get the populace to understand these issues
in a particular light, and shaped strategies to that end.
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