The ideas of influential economists such as Smith, Keynes and Friedman are highlighted. The influence of these ideas on government policy and thinking is also discussed. March, J.G. 1978. Bounded rationality, ambiguity, and the engineering of choice. Bell Journal of Economics 9: 587–608.

From boom to bust and back again • Resolution Foundation From boom to bust and back again • Resolution Foundation

The book shows how the Industrial Revolution essentially set the UK off on a path which has taken other countries in Europe the best part of c150 years to catch up with and how, more recently, the UK has struggled to work out what economic a coherent economic approach looks like (the Brexit debate is highlighted as typical of this incoherent approach). For cost savings, you can change your plan at any time online in the “Settings & Account” section. If you’d like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial.In war, do not think that trade did not continue. In 1809-1810 Britain continue to buy grain from France to feed its troops. The money France received helped fund their war, while France also needed clothing from the UK, which helped fund the UK war. French troops where often killed by the British wearing coats made in Northampton and Leeds. Muddling Through’ is a superb, detailed overview, charting 200 years of British economic history. For a nation immersed in the traditions of entrepreneurial innovation and ambitious start-up companies, it’s surprising how little space economic history seems to occupy in the minds of the general population. Surely all British school children should be given a more detailed idea of how the Capitalist engines of The City of London operate, considering their enormous influence on the economy. 2008 reminds us of how high are the stakes when the global financial system goes wrong. Surely such scandalous collapses would be less likely if the masters of the financial universe were held to account by an educated, informed population…

Two Hundred Years of Muddling Through - Hachette UK Two Hundred Years of Muddling Through - Hachette UK

The author uses simple numeric examples to explain economic concepts and this is extremely helpful to the non economist or those such as myself who studied economics a long time ago!

Why did we British become so attached to the idea that we always muddle through? Perhaps we should blame Churchill, whose “Keep Buggering On” mantra became a national catchphrase during the Second World War. But are we really a nation of muddlers-through? This book is an extremely well written, clear and concise summary of British economic and political history covering the period from the period just prior to the Industrial Revolution to 2021. A central theme to the book is how the role and shape of the state has changed and adapted over time - not often for purely ‘ideological’ reasons, but more in response to economic developments and challenges, as well as the need to cope with huge global events (WW1 and WW2 loom large). A few themes organise the book: path dependency, political economy, and the importance of productivity. Path dependency meant having to deal with crises that were inherited, which had often been subject to short term fixes. Political economy has to do with who had power, which was strongly influenced by who could vote. And average product per (employed) person varied widely, rising fast around 1800 but falling throughout the past century.