Neo-Liberalism and New Labour Policy: Economic Performance, Historical Comparisons and Future Prospects

Posted: 16 Jun 2008  

Frank Wilkinson

University of London - Birkbeck College

Date Written: November 2007

Abstract

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 conversion to neo-liberalism means that no alternative to it is on political offer, despite returns to pre-Keynesian policy-making, the success of which will depend on price policies based on an understanding of the institutional roots of inflation.

Keywords: distribution, import prices, incomes policy, inflation

JEL Classification: E1, E2, E3, E6, J6

Suggested Citation

Wilkinson, Frank, Neo-Liberalism and New Labour Policy: Economic Performance, Historical Comparisons and Future Prospects (November 2007). Cambridge Journal of Economics, Vol. 31, Issue 6, pp. 817-843, 2007. Available at SSRN: https://ssrn.com/abstract=1146022 or http://dx.doi.org/10.1093/cje/bem026

Frank Wilkinson (Contact Author)

University of London - Birkbeck College ( email )

Department of Management
London WC1E 7HX
United Kingdom

Register to save articles to
your library

Register

Paper statistics

Abstract Views
229
PlumX