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GOVERNMENT VERSUS the MARKET - The Growth of the Public Sector, Economic Management and British Economic Performance, c. 1890-1979 (Paperback, New edition)
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GOVERNMENT VERSUS the MARKET - The Growth of the Public Sector, Economic Management and British Economic Performance, c. 1890-1979 (Paperback, New edition)
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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.
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