Global Capitalism and National Decline: The Thatcher Decade in Perspective

Description

First published in 1990, Global Capitalism and National Decline is a major contribution to the study of British political and economic decline. The author concentrates on the global nature of capitalism as the context for the development of national capitalism, and on the relationship between internal and external factors. A long-term view of British politics enables him to demonstrate that competing popular explanations of Britain’s crisis and the rise of Thatcherism in response to it, are in fact interconnected. The long decline of Britain originating in the 19th century, the inherent weakness of the post-1945 settlement, and the critical events of 1970s, acquire their fullest meaning when seen as different ‘layers’ of one and the same historical process. Henk Overbeek takes the story of Britain’s decline through to Margaret Thatcher’s tenth anniversary in office. His book will be invaluable to scholars and students of economics, politics, and history. it offers a clear perspective on the problems of national decline within a global context, and on Britain’s position in Europe and in the wider world. Cover Half Title Title Page Copyright Page Original Title Page Original Copyright Page Table of Contents List of Abbreviations List of Tables and Figures Dedication Preface Introduction 1 Long Waves of Class Formation Class Formation in the World System The Temporal Dimension of Class Formation Class Formation and the Political Articulation of Class Interests Capital Fractions Concepts of Control Generations in the Bourgeoisie 2 The Rise and Fall of British Hegemony The Making of the British Class Structure The Rise of British Capitalism The Nature of the British State The Logic of Priority The Class Structure of the Pax Britannica The Heyday of British Industrial Capital The Aristocratization of the Bourgeoisie Britain's Imperial Decline British Foreign Investment The Incorporation of the Labour Movement The Downfall of the Liberal Party Towards the General Strike 3 Between New Deal and Fascism: Depression, War and Transition in Britain The Turn to Protectionism Corporate Liberalism in the 1930s The Strength of the State Monopoly Bourgeoisie The Structure of the British Economy During the 1930s The Declining Industries The Fordist Industries The Balance of Depression The Long Decline: Determination vs. Contingency 4 The Redefinition of Britain's Global Position 1941–73 Global Fordism Postwar Reconstruction of the Global Order and the Birth of the 'Special Relation' Britain's Relationship with Europe Early European Integration Projects Suez and the Special Relationship The Move Towards Europe The World Market and the British Political Economy in the 1950s The Multinationalization of the British Economy The Effects of City Dominance for British Monetary Policy 5 The Postwar Fordist Offensives The Postwar Labour Government Nationalization The Establishment of the Welfare State The Continued Decline of Britain During the 1950s Concentration and Centralization of Capital Labour Relations in the Postwar Decades Modernization Offensives in the 1960s The Rise of the Conservative Corporate Liberals The Macmillan Era Labour Back in Power The Failure of Fordism 6 Global Crisis and the Rise of Neo-Liberalism The Crisis of the 1970s Capitalism and Crisis The International Context Britain and the Crisis Weak State, Strong City The Problem of Union Strength Three Options The Neo-Liberal Revolt in the Tory Party The Heath Years Europe Economic Modernization Tackling the Union Problem The Neo-Liberal Revolt The Rise of the New Realism in the Labour Party The Crisis of 1974 The 1974–9 Labour Government International Capitalist Discipline The Real Economy 7 Thatcherism in Power The Thatcherite Concept of Control The Transatlantic Context of Neo-Liberalism: The Evolution of British Foreign Policy Under Thatcher From Atlantic Partnership to Unilateralism The European Community The Westland Affair The Assault on the Working Class The Miners' Strike The Decline of the Unions The Neo-Liberal Accumulation Strategy Industrial Policy Liberalizing the City Pushing Back the State Towards a Neo-Liberal Power Bloc Capital Fractions and the Redistribution of Surplus Value Business Organizations and the Thatcher Government 8 Perspectives for Thatcherism The Decline of Britain Reversed? The Global Context Is the Class War Over? A Post-Fordist Accumulation Strategy Restructuring the Landscape of British Politics Conclusion Notes References Subject Index Name Index Author Index