Agenda Publishing The Political Economy of Industrial Strategy in the UK (Building Progressive Alternatives): From Productivity Problems to Development Dilemmas

Does the UK still have an industrial strategy? How should we understand the renewed interest within government in industrial policy – and now its apparent reversal – in recent years? This collection of essay by leading academics and practitioners including Victoria Chick, Kate Bell, Simon Lee, Karel Williams, Susan Himmelweit, Laurie Macfarlane and Ron Martin – among many others– considers the effectiveness of recent industrial policies in addressing the UK’s economic malaise. In offering a broad political economy perspective on economic statecraft and development in the UK, the book focuses on the political and institutional foundations of industrial policy, the value of "foundational" economic practices, the challenge of greening capitalism and addressing regional inequalities, and the new financial and corporate governance structures required to radicalize industrial strategy. Review In the wake of the 2008 global financial crisis, departure from the EU and the Covid-19 pandemic shocks, this book is one of the most impressive and convincing attempts to demonstrate how industrial policy can help deal with the enormous challenges facing the UK – from reducing social, economic and geographical inequalities, to decarbonising the economy and creating high-quality employment opportunities – and also clearly shows the necessity of a new economic imaginary in which a progressive industrial policy can succeed. -- Valbona Muzaka, King's College LondonThis is an excellent and wide-ranging look at the problems and possibilities of Britain’s approach to industrial policy. The post-Covid recovery makes it especially relevant. -- Duncan Weldon, Britain Economics Correspondent, The EconomistThe industrial strategy debate in the UK tends to be framed narrowly in terms of finding solutions to the 'productivity puzzle'. But this book offers a breath of fresh air and a compelling case for framing the debate in far more capacious terms. In short, it demonstrates how a progressive industrial strategy can help to fashion an inclusive well-being economy. -- Kevin Morgan, Professor of Governance and Development, Cardiff University About the Author Craig Berry is Reader in Political Economy at Manchester Metropolitan University.Julie Froud is Professor of Financial Innovation in the Alliance Manchester Business School at the University of Manchester.Tom Barker has worked as a teaching associate and/or research assistant at the University of Sheffield, Sheffield Hallam University and Manchester Metropolitan University.