United States and the United Kingdom
The United States and the United Kingdom share an intertwined history and have played leading roles in the development of the modern international economy. Within Comparative Political Economy,the US and the UK are considered exemplars of a particular ‘liberal market economy’ variety of capitalism, oriented around a finance-driven ‘Anglo-liberal’ growth model. This shared vision of the economy is often conceptualised as neoliberalism, which places an emphasis on promoting market mechanisms at the expense of state intervention, flexible labour markets, low inflation targeting and other supply-side interventions. This model has often proved controversial, provoking the ire of Continental states lamenting the excesses of ‘Anglo-Saxon’ capitalism fostering financial instability and rising inequality.
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This material is intended for current students but will be interesting to prospective students. It is indicative only.