Economic policy making in the UK: to what extent should this be endorsed by other EU member countries?

Abstract

The UK has often looked abroad in search of a successful approach to managing the economy, e.g. lessons were taken up in the 1960s from French planning, from worker participation in Germany in the 1970s, from monetarism in the USA in the 1980s and, in the 1990s, from Japan and South East Asia, until the current crisis. Shows how economic policies from outside the UK have influenced the UK economy. Also questions whether now, in the late 1990s, there has been a change in direction and a situation has been reached whereby other countries in Europe and beyond are actually looking towards the UK for guidance in the field of economic policy making. Much was made of the benefits of UK economic policy making during the recent Blair Government’s presidency of the EU. Moreover, it needs to be questioned whether individual governments will, in future, have much influence on economic policy making, with the creation of a single currency. Draws upon evidence from countries including Spain, France and Germany and considers various theoretical explanations concerning globalisation and European integration; also questions whether the UK economic model will continue to prosper or whether, like its fashion equivalent, it comes and goes. The current weaknesses are considered.

Citation

Floyd, D., Willis, R. and Adcroft, A. (1999), "Economic policy making in the UK: to what extent should this be endorsed by other EU member countries?", European Business Review, Vol. 99 No. 6, pp. 376-382. https://doi.org/10.1108/09555349910300647