New Perspectives on Industrial Policy for a Modern Britain by David Bailey, Keith Cowling, Philip Tomlinson

By David Bailey, Keith Cowling, Philip Tomlinson

Within the aftermath of the worldwide monetary trouble of 2008 and the resultant nice Recession of 2008 to 2013, the commercial debate has began to shift in the direction of 'rebalancing' the united kingdom economic climate, clear of an over-reliance upon consumerism and the monetary quarter to generate development, in the direction of extra sustainable efficient actions. The fallout from the monetary problem uncovered the systemic failings of the dominant neo-liberal version to carry balanced development and there's now expanding acceptance this 'rebalancing' may possibly most sensible be accomplished during the nation pursuing an lively 'industrial policy'. therefore, after a protracted hiatus, commercial coverage is again fashionable at local, nationwide, and european degrees pushed by way of matters over competitiveness, globalisation, de-industrialisation, unemployment, and the relatively sluggish development of the British and ecu economies particularly during this post-recession section. whilst, business coverage has been obvious as a catalyst for designing fiscal restoration ideas at nearby, nationwide, and ecu degrees in addition to being a concerted technique to strengthen new 'clean-tech' industries to take on environmental demanding situations.

This booklet brings jointly major ecu dependent specialists, every one with a protracted status curiosity in business coverage. The chapters provide a large set of views at the many aspects of commercial coverage, together with reflections upon previous stories of commercial coverage (from around the globe) and demanding research and recommendation upon modern united kingdom business coverage matters. they target to severely tell and problem policy-makers, coverage think-tanks, industrialists, alternate unions, teachers, and different stakeholders in framing the longer term direction for business coverage within the united kingdom, and certainly extra broadly.

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The final chapter (20) by Dan Coffey and Carole Thornley also explores the prospects for aligning industrial policy with the green agenda. Their analysis, however, highlights significant difficulties in shifting industrial policy from being largely ‘horizontal’ in terms of supporting a broad range of sectors to one which is targeted upon specific sectors, where there is a concomitant aim of reducing carbon emissions. By considering recent policy initiatives in the UK, they argue that beyond the rhetoric of promoting low carbon industrial development, political and economic constraints often undermine sustainable economic development.

Tomlinson e­ mployers and employees, and resolve conflicts possibly through greater internal mediation and workplace institutions. The chapter concludes that a ‘high road’ industrial strategy might therefore be enhanced by promoting a greater balance in the respective interests and rights of employers and employees which, in turn, is likely to foster greater trust, engagement, and mutual productivity gains within UK companies. 4 Part 4: Industrial Policy and Regional Development Part 4 considers the role of industrial policy in regional development.

Complementing this, in Chapter 15, David Bailey, Paul Hildreth, and Lisa De Propris attempt to address the question: What would a genuinely ‘place-based’ strategy mean for industrial and regional policy in England? It draws on the international literature to outline the basic foundations of ‘place-based’ policy approaches, drawing out two key features, particularly as they relate to ‘institutions’ and to ‘knowledge’. After examining key concepts in the ‘place-based’ policy literature, such as ‘communities of interest’ and ‘capital city and local elites’, they show how such concepts might be interpreted in a UK (or English) policy context.

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