chapter  6
14 Pages

Brexit and the Future Model of British Capitalism

ByAndrew Baker, Scott Lavery

This chapter assesses the extent to which Brexit might precipitate a rupture with the United Kingdom's (UK's) dysfunctional model of capitalism (MOC) and its associated finance curse. It identifies the core features of the UK's MOC and outlines the ways in which European Union (EU) membership has shaped and sustained the UK's MOC in the recent past. The chapter emphasises the conflictual and contradictory politics of Brexit. It presents a two-by-two matrix as a device for understanding the conflicted political economy of Brexit, identifying four significant but fluid 'power blocs' seeking to shape the Brexit process within the UK state and society. The four power blocs are business as usual coalition, Singapore on Thames coalition, soft reformism coalition and protectionist-interventionist-populist bloc. The strategic positioning of the four power blocs is therefore fluid rather than fixed, and there is likely to be some criss-crossing and movement among the quadrants over time.