Ideological Cycles
Viewing British political history through the prism of ideological waves shows distinct variations in the ideological positioning of British governments. The post-war settlement entrenched Keynesian demand management. With the stagflation crisis and the IMF bailout, Thatcherism brought in quantitative monetary policy, privatisation and market openness. Following the political failures of the Conservative Party under Thatcher and Major, New Labour presented a social democratic version of the Thatcherite consensus, neoliberalism with a human face. With this came the introduction of public-private partnerships in the NHS, education and transport infrastructure and the introduction of corporate management techniques into the public sector, flexibilising both the state and social democracy.
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