John Grieve Smith is a Cambridge economist with wide experience of government and history. He has worked in the Cabinet Office, the Treasury, as an Under-Secretary in the Department of Economic Affairs and then as Director of Planning in the British Steel Corporation. He is a fellow of Robinson College, Cambridge.

• Prefaces, Acknowledgements; 1. The New Orthodoxy: 1. Introduction; 2. Evolution of Post-War Policy; 3. The New Orthodoxy; 4. New Labour in Power; 5. Restoring Full Employment; 2. A Fairer Society: 1. Social Injustice; 2. The Balance of Power; 3. Industry and Social Partnership; 4. The Public Sector; 5. Paying for Public Services; 3. The Welfare State: 1. The Growth of Means-Testing; 2. New Labour's Inheritance; 3. Welfare Reform; 4. The Demographic Time Bomb; 5. Time to Take Stock; 4. The Future of the EU: 1. Further Integration; 2. Managing Demand; 3. Taxes and Public Expenditure; 4. The Labour Market, 5. A European Federation?; 6. Rethinking European Policy; 7. A New ERM; 5. Reforming the Global Financial System: 1. The Threat of Instability; 2. Improving Financial Regulation; 3. The Flow of Capital to Developing Countries; 4. The Role of Taxation; 5. Managing Exchange Rates; 6. The Future of International Economic Institutions; 6. A New Economic Agenda: 1. Breaking the Thatcherite Mould; 2. Towards a Fairer Society; 3. Rebuilding the Welfare State; 4. Making European Integration Work; 5. Taming Global Finace; 6. A Better Way; Index

'An outstanding critique of New Labour's economic and social policies.' —William Keegan, Economics Editor and Associate Editor, 'The Observer'

John Grieve Smith is a Cambridge economist with wide experience of government and history. He has worked in the Cabinet Office, the Treasury, as an Under-Secretary in the Department of Economic Affairs and then as Director of Planning in the British Steel Corporation. He is a fellow of Robinson College, Cambridge.

• Prefaces, Acknowledgements; 1. The New Orthodoxy: 1. Introduction; 2. Evolution of Post-War Policy; 3. The New Orthodoxy; 4. New Labour in Power; 5. Restoring Full Employment; 2. A Fairer Society: 1. Social Injustice; 2. The Balance of Power; 3. Industry and Social Partnership; 4. The Public Sector; 5. Paying for Public Services; 3. The Welfare State: 1. The Growth of Means-Testing; 2. New Labour's Inheritance; 3. Welfare Reform; 4. The Demographic Time Bomb; 5. Time to Take Stock; 4. The Future of the EU: 1. Further Integration; 2. Managing Demand; 3. Taxes and Public Expenditure; 4. The Labour Market, 5. A European Federation?; 6. Rethinking European Policy; 7. A New ERM; 5. Reforming the Global Financial System: 1. The Threat of Instability; 2. Improving Financial Regulation; 3. The Flow of Capital to Developing Countries; 4. The Role of Taxation; 5. Managing Exchange Rates; 6. The Future of International Economic Institutions; 6. A New Economic Agenda: 1. Breaking the Thatcherite Mould; 2. Towards a Fairer Society; 3. Rebuilding the Welfare State; 4. Making European Integration Work; 5. Taming Global Finace; 6. A Better Way; Index

'An outstanding critique of New Labour's economic and social policies.' —William Keegan, Economics Editor and Associate Editor, 'The Observer'

John Grieve Smith is a Cambridge economist with wide experience of government and history. He has worked in the Cabinet Office, the Treasury, as an Under-Secretary in the Department of Economic Affairs and then as Director of Planning in the British Steel Corporation. He is a fellow of Robinson College, Cambridge.

• Prefaces, Acknowledgements; 1. The New Orthodoxy: 1. Introduction; 2. Evolution of Post-War Policy; 3. The New Orthodoxy; 4. New Labour in Power; 5. Restoring Full Employment; 2. A Fairer Society: 1. Social Injustice; 2. The Balance of Power; 3. Industry and Social Partnership; 4. The Public Sector; 5. Paying for Public Services; 3. The Welfare State: 1. The Growth of Means-Testing; 2. New Labour's Inheritance; 3. Welfare Reform; 4. The Demographic Time Bomb; 5. Time to Take Stock; 4. The Future of the EU: 1. Further Integration; 2. Managing Demand; 3. Taxes and Public Expenditure; 4. The Labour Market, 5. A European Federation?; 6. Rethinking European Policy; 7. A New ERM; 5. Reforming the Global Financial System: 1. The Threat of Instability; 2. Improving Financial Regulation; 3. The Flow of Capital to Developing Countries; 4. The Role of Taxation; 5. Managing Exchange Rates; 6. The Future of International Economic Institutions; 6. A New Economic Agenda: 1. Breaking the Thatcherite Mould; 2. Towards a Fairer Society; 3. Rebuilding the Welfare State; 4. Making European Integration Work; 5. Taming Global Finace; 6. A Better Way; Index

'An outstanding critique of New Labour's economic and social policies.' —William Keegan, Economics Editor and Associate Editor, 'The Observer'