Political Economy and the Labour Party: The Economics of Democratic Socialism, 1884-2005

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This book is an excellent introduction to the ideas and arguments that have guided Labor's economic thinking from 1884 until the present day, and the influence these ideas have exerted over the formulation of economic policy. It provides clear and concise summaries of leading thinkers and schools, and clearly brings out the diverse nature of the economic thought that has characterized the Labour party. This significantly revised edition brings the book up to the present day and provides a much needed analysis of the Blair government. It explores how the early thinking of the 1990s has been applied in government and, in addition to providing a more developed historical contextualization of ideas and thinkers, the new edition includes: * A new introduction discussing the emergence of the Labor Party and the disparate elements of which it is comprised* A chapter discussing the intellectual antecedents of, and influences on, New Labor. It also explores the impact of globalization and the shifting Labor position on the EU* A chapter examining the ideological trajectory of New Labor and where its political economy now lies on the political spectrum. It also discusses Britain's economic performance since 1997* A new conclusion discussing the themes that have guided and informed economic thinking within the labor party and also the methodologies and emphases that have characterized democratic socialist political economies in the late 19th and 20th centuries. The book will be of great interest to students and scholars studying British politics, British history, economic and political thought.In Political Economy and the Labour Party, Noel Thompson gives an informative and stimulating outline of the ideas and theories that have shaped the partya (TM)s economic policy since 1900.a (TM) - Times Literary Supplement A new edition of the American Library Association's Outstanding Academic Book' award winner. This new volume brings this study of the rich tradition of British socialist political economy and its influence on the British Labour Party fully up-to-date. Surveying the Labour tradition from the Fabianism of the Webbs to the social-isma (TM) of Tony Blaira (TM)s Third Way, this new edition considers the critical engagement of these political economies with capitalism and the policies they articulate. It also discusses the manner in which they influence, or establish the context for, Laboura (TM)s economic thinking and policymaking and traces the ideological trajectory British social democratic political economy over the course of the twentieth century. In its concluding chapter this volume assesses the present character of the political economy advanced by the Labour Party and raises the question as to whether it can any longer be considered part of the social democratic tradition. This is an essential new edition of this now standard text for students taking courses on the history of political and economic thought and, more generally, courses on the political and intellectual history of nineteenth- and twentieth-century Britain.