Cracks in the post-war keynesian settlement? The role of organised business in britain in the rise of neoliberalism before margaret thatcher

Abstract

This article modifies our understanding of the rise of neoliberalism in Britain by highlighting the links between neoliberal circles and organised business in Britain. It focuses on the role of two individuals who played an active role in both spheres as Economic Director of the Confederation of British Industry and its predecessor over the period 1955-73. Incorporation of this evidence shows that neoliberal intellectuals and think tanks were not always as isolated as commonly suggested. It also shows how business opinion was less united in its support for Keynesian and corporatist solutions than traditionally implied. This helps to explain why the neoliberal counterrevolution was able to occur so rapidly in Britain. © The Author [2013]. Published by Oxford University Press. All rights reserved.