The UK economy has fluctuated significantly during the past four decades, transitioning from the turblent 1970s to prosperity in the 1990s and austerity measures brought about by the 2008 financial crisis. Today, in light of Brexit and related factors, the UK faces an economic crossroads marked by political and economic uncertainty.
The UK Economy examines the roots of this crossroads, incorporating an accessible and engaging overview of the UK’s recent economic history with an analysis of economic data to present a comprehensive introduction to the UK’s current political and economic climate.
The book considers the UK's “productivity puzzle”, austerity measures, the North-South divide as well as the crisis in the NHS and nationalization and privatization debates. It also contextualizes economic welfare data through the analysis of well-being indices and social mobility data.
The book assesses the UK’s economic prospects moving forward, looking at international relationships, comparative advantage, the role of technology and institutional and structural changes needed to keep the UK competitive. Suitable as a companion to courses across the social sciences, The UK Economy is the ideal introductory text for first year university students.
Aled Davies is a Departmental Lecturer in History at the University of Oxford.