Edited by Craig Berry, Julie Froud, Tom Barker
Industrial strategy has been back on the agenda of UK policy elites since the 2008 financial crisis. How should we understand this shift? This collection of essays by leading academics and practitioners including Victoria Chick, Kate Bell, Simon Lee, Karel Williams, Susan Himmelweit, Laurie Macfarlane and Ron Martin – among many others– considers the effectiveness of recent industrial policies in addressing the UK’s economic malaise. In offering a broad political economy perspective on economic statecraft and development in the UK, the book focuses on the political and institutional foundations of industrial policy, the value of "foundational" economic practices, the challenge of greening capitalism and addressing regional inequalities, and the new financial and corporate governance structures required to radicalize industrial strategy.
Introduction: The political economy of UK industrial policy Craig Berry, Julie Froud and Tom Barker
Part I The historical context 1. Prisoner of the past: British industrial policy from empire to Brexit James Silverwood and Richard Woodward 2. Industrial policy, then and now: historicizing the 2017 white paper Victoria Chick 3. The developmental state in England: the role of the Treasury in industrial policy Simon Lee
Part II Rethinking economic foundations 4. The foundational economy and industrial strategy Julie Froud, Sukhdev Johal and Karel Williams 5. The false promise of productivity Paul Lewis 6. A "return to normal times"? Industrial strategy and reproductive labour Isaac Stanley
Part III The end of laissez-faire? 7. Business-centric governance in UK industrial policy: neoliberal wine in interventionist bottles? Craig Berry and Tom Barker 8. Reconciling a post-Brexit trade and industrial strategy Matthew Louis Bishop 9. Financing industrial strategy: the role of state investment banks Laurie Macfarlane
Part IV Manufacturing and innovation 10. Risk management and reduction in global supply chains and production networks: reshoring and rightshoring versus offshoring John R. Bryson, Vida Vanchan and Shihao T. Zhou 11. Making work: The knowledge economy, automation, and industrial strategy Nick O’Donovan 12. Industrial strategy and science and innovation policy Richard Jones
Part V Firms and workers 13. Broadening the ambit of industrial strategy to include latent demand and corporate governance Ciaran Driver 14. Expanding skills and workplace capacity: a relational approach to industrial strategy Alison Fuller and Lorna Unwin 15. Why an industrial strategy needs trade unions Kate Bell
Part VI Mainstreaming inequality and low pay 16. Where should low-wage sectors feature in an industrial strategy? John Forth and Ana Rincon-Aznar 17. Care as investment in social infrastructure Susan Himmelweit 18. Reducing inequality as industrial policy: finding productivity gains in the "overlooked economy" Ed Pemberton
Part VII The local dimension 19. The policy challenges of "levelling up" Ron Martin, Peter Sunley and Ben Gardiner 20. Local industrial policy and "left-behind" places John Tomaney and Andy Pike 21. Looking North: the multi-level governance of economic policy Arianna Giovannini and Luke Raikes
Part VIII Towards a greener future? 22. Sustainability dilemmas and Britain’s national industrial ambitions: Brexit, electric cars, and a petrol and diesel ban Dan Coffey and Carole Thornley 23. Industrial policy in the context of climate emergency: the urgent need for a Green New Deal Daniel Bailey 24. Clean and lean: an industrial strategy for an era of globalisation and climate change Dustin Benton
Craig Berry is Reader in Political Economy at Manchester Metropolitan University.
Julie Froud is Professor of Financial Innovation in the Alliance Manchester Business School at the University of Manchester.
Tom Barker has worked as a teaching associate and/or research assistant at University of Sheffield, Sheffield Hallam University and Manchester Metropolitan University. He received his PhD from University of Cambridge, and is a commissioning editor for the journal, Renewal.