Lecture notes
ECONOMY, WELFARE STATE, NHS
- Module
- Institution
Industrial Revolution Margaret Thatcher (Thatcherism) Brexit The Welfare State NHS
[Show more]
Seller
Follow
sugivernyik
Content preview
7. ECONOMY, WELFARE STATE, NHS19th century – Industrial Revolution
The UK was very dominant in:
Cotton
Heavy industry
Mining industry (significant)
From an economic perspective, they were the biggest Empire in the 2nd half of the century.
20th century:
No longer an Empire after the two WWs
They were on the winning side but lost a lot of money, they went bankrupt
Industrial centers were bombed no money to rebuild
Poverty, unemployment for people
1980: Margaret Thatcher (Thatcherism)
1. Free market policies (capitalism)
2. Deregulation of the financial sector (Big Bang, less strict rules for banks)
3. Dismantled heavy industry (shut down everything minister’s strikes)
4. Cutting taxes
5. Privatization
6. Opposing shared currency (Euro)
Thatcher was viewed in a negative light because she looked at people solely from an economic
perspective, not as a community (see the mines she shut down). She had taken away their means of living.
21st century – A series of crises
2008 – Global recession
2016-2020 – Brexit referendum
The pound dropped immediately (most expensive currency)
2020 – Covid (the whole country shut down)
GDP declined significantly by 9.7% (worse than after the WWs)
The welfare state (=a form of state of government/state where the state protects the citizens, takes
responsibility for the welfare of the individual and the society. In the UK it was introduced in 1906.
1. Minimum wage was introduced
2. Illegal to sell kids cigarettes
3. Free school meals
4. Free medical treatment
5. Sick pay
6. Pension – retirement (age limit was 70)
After WWII. – expansion of the welfare state:
NHS (National Health Service) – 1948
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller sugivernyik. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £3.01. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78861 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now