ABSTRACT
The economic philosophy that generates the succeed or collapse rule for business paralleled the educational philosophy that emerged in the 1990s of high levels of testing of students and closure of failing schools. The free-market revolution seems to seep throughout British life, with money at the root of most decision-making. However, evidence of interventionism by the state, and of rising spending, led some commentators to believe that the older economic philosophy of Keynesianism was a discreet survivor in economic policy. The British economy between 1964 and 2007 cannot be described as experiencing any overall absolute decline and, in comparative terms, its position has been one of extremely good performance during a period when the economic centre of the world economy has been gravitating towards developing nations. In this sense, Britain's economy has been transformed and modernised and, in most respects, has been a significant success.
