Since 1945 British governments have played an active role in managing the economy in the interests of securing high employment, economic growth and low inflation with their approach evolving in response to changing economic circumstances, intellectual shifts and past policy failures.

This book provides an overview of economic management, particularly financial management, and addresses how it has changed and why it has not always been successful. It examines the actual policies that were introduced, the problems that various governments faced in implementing them and how the approach to policy-making changed. It also examines the main phases of economic policy-making and the conduct of policy-making, as there is a widespread consensus that until recently short-run economic management could have been more successful than it was.

Clearly and authoritatively written, it will be of particular benefit to students of economics, politics and contemporary history, although it will appeal to anyone with an interest in economic affairs.