The Limits of Social Democracy?

This paper is a revised version of an Economic History thesis submitted to the London School of Economics in September 2000.The main text assumes analytical rather than chronological form, and, to avoid breaking the flow of the argument, it refers to persons, Labour Party structures and Britain’s macro-economy without offering introductions. To avoid assuming knowledge an appendix is added which briefly details the following: chronology; the jobs of individuals mentioned; the levels of inflation and unemployment; and, the structure and purpose of the Labour Party committees cited in the paper. This should be referred to whenever the main text seems presumptuous.The text also uses a few political and economic abbreviations. These are spelled out on the next page rather than in the body of the main text.[...]