Abstract
This essay examines the historical contexts which shaped the UK economy and its particular model of Anglo-liberal capitalism, and the political discourse of economic and imperial decline which took hold particularly after 1945. It looks at the debate on models of capitalism, and why membership of the EEC was attractive partly because of the different models of capitalism which had developed in Europe and were for a time regarded as superior to that of the UK. It examines the trajectories of the development of the UK political economy from 1942 to 2017, paying particular attention to the major shift in direction under Thatcher and Blair. The final section analyses the tension between US and European models of capitalism, the impact of Brexit and the different ways in which the UK might now develop.
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