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Industrial Relations and the Economy - Coggle Diagram
Industrial Relations and the Economy
CHANGES IN POLTICAL PARTY FORTUNES
ECONOMIC CHANGES
economic policies and change:
economic policies failures;
labour gov failures - stagflation 1964-1979
gold standad - inconsistencey and value of the £ as a response to stagflation £2.80 £2.40
industries struggling in the 1920s
conservative failures - stop-go policies 1951-1964
government debt after WW2 was at 4 billion
failures of the wall street crash
long term problems with protectionism - british industry becomes less competitive unlike Germany
inflation 1919 - £24 per capital tax raised, failure b/c growing unemployment
growth of the economy- 1951 2.3% unlike germany 1964 5.1%
economic policies success;
Wall Street crash solutions - dealing with this success (exports become 25% cheaper)
protectionism (protecting British industries in the early 1920 - short-term success)
joining the EEC - 1973
success of keynesian economics (government should get involved in the economy) - managed economy up until the 1970s
trying to solve inflation eg. 1919- £24 per capital tax raised
INDUSTRIAL RELATIONS