Abstract
This chapter draws a parallel between the monetarist practices adopted by the British government in the 1980s and the responses to Brexit that will allow the City of London to thrive. As Prime Minister Thatcher’s monetarism responded to the needs and preferences of the British financial elite in light of the City’s so called “revolution” of 1986–7, de-regulation practices ensuing from Brexit also meet the preferences of the British financial elite, especially at the dawn of a new innovation era. The chapter concludes that Brexit represents the revenge of the ultra-liberals and will allow the City to emerge on the winning side of globalization. The chapter is structured as follows. In the first section the author analyzes the evolution of deregulation and innovation in the City of London during the Thatcher era. In the second section, the policies that will allow the City to thrive after Brexit are identified, noticing the similarities with the Thatcherite era. The conclusion points at the continuity between deregulation and innovation practices in the 1980s and the policy needs of the City after Brexit.
| Original language | English |
|---|---|
| Title of host publication | The Politics and Economics of Brexit |
| Publisher | Edward Elgar Publishing Ltd |
| Pages | 162-180 |
| Number of pages | 19 |
| ISBN (Electronic) | 9781788977975 |
| ISBN (Print) | 9781788977968 |
| DOIs | |
| Publication status | Published - 1 Jan 2020 |