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Essay / Research Paper Abstract
A paper which looks at the postwar and the new industrial settlements, with reference to Thatcherism and the changing role of the trade unions in the UK. Bibliography lists 5 sources
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5 pages (~225 words per page)
File: JL5_JLindsettl.rtf
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not the current situation regarding industrial relations in Britain could be regarded as a "new industrial settlement", it is perhaps useful to consider first the postwar settlement and its development
during the 1980s, and the impact which that period had on the structure of industrial relations in the present day. As noted by margaretthatcher.net (2004), the immediate postwar period was
one of growth and development, leading to the comment that Britain had "never had it so good" in the 1950s. However, even with the perceptible rise in prosperity, it was
also felt that in some ways Britain was falling behind the growth evinced by other parts of the world, especially Western Europe, leading to a series of debates on the
possible causes of this perceived decline. As margaretthatcher.net points out, by
the 1960s the socialist viewpoint was that a lack of investment in industry was the major factor, to which the response was the development of Thatcherism. Thatcherism, as delineated primarily
by Keith Joseph (rather than Thatcher herself) asserted that the main cause of economic decline in the country was the postwar settlement and the presence of the trade unions. Keynesianism,
which underpinned postwar economics and focused on high growth and low unemployment, was seen as unsatisfactory since it could not account for high inflation and slow economic growth. Monetarism, as
delineated by Friedman, was gaining in popularity and promoted the concept that however much was poured into public spending, this would not improve economic growth: the answer was to control
inflation through the monetary supply. In tandem
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