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Fitzpatrick provides a conceptual account of the privatisation and re-regulation of public utilities in the 1980s. He places the emergence of this ‘neoliberal tradition’ in the context of two crises: the perceived crisis of the Keynesian Welfare State in the late 1970s, of which the failing nationalised industries were seem to be emblematic; and a deeper, more subtle and less articulated crisis of the traditional mode of regulating private enterprise, that is British regulatory tradition. Using data gathered from elite interviews and primary documents, he interrogates the process of contestation that the British regulatory tradition has undergone post-privatisation. In particular, he critically analyses the attempt to subject the privatised utilities to an econometric, non-discretionary regulation regime that challenged the traditional capacity of the state to intervene and the underlying notion that the ‘government knows best’.
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- The Neoliberal Tradition: Privatisation and Re-regulation
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