Political Economy: Economic Regimes, Political Regimes and Political Economy in Britain

Incentives for capitalists to invest had diminished as the 1970s moved to 'crisis'. As the economic decline and 'crises' filtered through to political crises, an alternative regime in political economy was increasingly sought by both left and right. 'Post-Fordist capitalism' is in fact the part-economic, part-political, part-technological phenomenon which has characterised the development of 'advanced capitalism' in the years since the long boom. A progressive tax system may threaten a country's position within global capitalism: higher taxes may discourage inward investment and hasten the export of capital. Britain gets rich today by 'British' and multi-national companies transferring production abroad – that is, national wealth is defined as profit for capital. Global capitalism is the main influence upon national economies in today's world, and political economy is the most significant determinant of health policy in a number of signif.