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Conclusion

  • Scott Lavery
Chapter
Part of the Building a Sustainable Political Economy: SPERI Research & Policy book series (SPERIRP)

ABSTRACT

The crises of the 1930s and 1970s led to profound structural transformations in the world economy. It remains unclear whether the 2008 crisis will bring about a similar reconfiguration. Within Britain, it appeared that the Coalition government had contained the crisis by 2015. The Coalition effectively re-established Britain’s finance-led growth model and pursued an orthodox liberal policy of austerity. However, under the surface, important shifts were afoot. A new regime of ‘loose’ monetary policy had crystallised. New forms of post-crisis politics—exemplified by Brexit, May and Corbyn—sought to advance programmes of social and economic reform. Whether these dynamics will lead to a transformation or consolidation of Britain’s dysfunctional model of capitalism remains an open question.

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.Sheffield Political Economy Research Institute (SPERI)University of SheffieldSheffieldUK

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