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Capitalism UnleashedFinance, Globalization, and Welfare$
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Andrew Glyn

Print publication date: 2007

Print ISBN-13: 9780199226795

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780199226795.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 05 December 2021

Austerity, Privatization and Deregulation

Austerity, Privatization and Deregulation

(p.24) 2 Austerity, Privatization and Deregulation
Capitalism Unleashed


Oxford University Press

This chapter outlines the counter-revolution in macroeconomic policy which brought forth a period of tight monetary policy and fiscal austerity imposed in the name of defeating inflation. This was followed by the unwinding of much of the detailed government intervention into particular sectors and markets which had characterized the previous decades. Privatization and the deregulation of the industries concerned, the substitution of private sector sources of supply for public sector in-house service provision, and the deregulation of labour markets are all aspects of this process.

Keywords:   macroeconomic policy, monetary policy, fiscal policy, inflation, unemployment, privatization, labour market deregulation

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