Economic Recovery and Governance for the Long-Term

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    Abstract

    Britain remains mired in the most severe and prolonged economic crisis that it has faced since the 1930s. The financial crash of 2007 brought British growth to a sharp halt, while the subsequent double-dip recession has eaten away at living standards and dampened future prospects. In such a context the question of growth has acquired a renewed urgency, taking centre stage within British politics. Britain's old growth model, based on asset price inflation in the housing market and cheap consumer credit, is now defunct. But, as yet, no credible alternative has been proposed. The old growth model is dying but a new one has yet to be born. The crisis has raised many questions about the future of British growth. Is the attempt to reduce deficits and lower debt the right strategy to foster long-term recovery? Can a new approach deliver growth that is socially and environmentally sustainable? And what can be done to ensure the benefits of growth are shared more evenly in the future? This important collection of essays by leading commentators seeks to provide some much-needed answers.
    Original languageEnglish
    Title of host publicationThe British Growth Crisis. The Search for a New Model
    EditorsJeremy Green
    Place of PublicationLondon
    PublisherPalgrave Macmillan
    Chapter4
    Pages105-125
    Number of pages21
    ISBN (Print)9781137441515
    Publication statusPublished - 2015

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  • Cite this

    STOKER, G. (2015). Economic Recovery and Governance for the Long-Term. In J. Green (Ed.), The British Growth Crisis. The Search for a New Model (pp. 105-125). Palgrave Macmillan.