By Ian Clark
This booklet examines the legacy of financial and political goals and pursuits formulated via the British executive in the course of, and instantly after the second one global conflict. It examines modern styles of rules through the kingdom, and reform within the business family approach as elements of those traditionally embedded impacts. This publication makes a massive contribution to the heritage and thought of British post-war economics.
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Additional resources for Governance, The State, Regulation and Industrial Relations (Routledge Explorations in Economic History)
SJ Last, the USA would offer friendly aid and assistance in drafting and administering the European programme. Aid and assistance manifested themselves via the Economic Co-operation Agency and the Technical Assistance and Productivity programme. The Marshall Plan served the US national interest in four ways. First, it furthered diplomatic and strategic interests first enunciated in the containment doctrine now dominated by the ideology of the Cold War. Second, and related, it further consolidated the realpolitik of the Cold War by blocing Western Europe within Regulation and the post-war order 29 an US-dominated alliance system.
However, these concessions gave the UK the material capability to prosecute the Cold War in Western Europe. The US Treasury underwrote the sterling area as a multilateral trading area. The aim of US foreign policy was to secure markets and form Western Europe into an integrated economic and political bloc. 41 So instead of winding up the sterling area (the aim of the series of agreements culminating in the UK loan arrangements), US foreign policy actually sustained it. This was significant in the consolidation of the UK's national pathway, and its manufacturing sector in particular.
Labour and trade unions accept modernization, whereas employers and management in the workplace promote modernization to confine labour disputes to the nominal wage. High investment stimulates a diffusion of new technology in the workplace, which in turn helps to sustain productivity growth . Management is firmly in control of production, with organized labour sharing in its regulation through collective bargaining. The domestic institutions that regulate Fordism represent a particularized version of a wider set of global institutions centred around Keynesian demand management and ftxed exchange rates.