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Left-Turn Ahead in the UK Economy: The Johnson Factor
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Экономическая теория,  Экономика и управление народным хозяйством,  Мировая экономика,  Теория и философия политики, история и методология,  Политические институты, процессы и технологии,  Политическая культура и идеологии,  Политические проблемы международных отношений, глобального и регионального развития,  Политическая регионалистика. Этнополитика
UDC
3 ОБЩЕСТВЕННЫЕ НАУКИ
Publisher
Russian Academy of Sciences
Date of publication
29.10.2021
Public year
2021
DOI
10.31857/S086904990017285-5
Left-Turn Ahead in the UK Economy: The Johnson Factor
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Annotation

The paper identifies the key features and specific nature of the economic strategy adopted by Boris Johnson’s conservative government. The record growth of the public sector net borrowing in the post-war era is viewed as the main risk factor to the strategy implementation. The author concludes that liberal market economy in the UK has been gradually morphing into a coordinated market economy. The paradigm shift expresses itself in the deviation from economic neoliberalism to the idea of ‘one-nation conservatism’ adapted to modern trends. In practice, this means reinforcement of the redistributive and regulatory functions of the state, as well as transition from the consumption-led to export-led growth model.

Obshchestvennye nauki i sovremennost. 2021 Issue 5
Source
About authors
Inna Podkolzina
Senior Researcher
Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO)
References

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