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The journal aims to encourage work on the relationship between society, economy, institutions and markets, moral commitments and the rational pursuit of self-interest. Most articles focus on economic action in its social and historical context, drawing from sociology, political science, economics and the management and policy sciences.
The sector added gross value of £151,785 million to the UK economy in 2011. [137] As of 2016, high-street retail spending accounted for about 33% of consumer spending and 20% of GDP. Because 75% of goods bought in the United Kingdom are made overseas, the sector only accounts for 5.7% of gross value added to the British economy. [138]
The Anglo-Saxon model (so called because it is practiced in Anglosphere countries such as the United Kingdom, the United States, Canada, New Zealand, Australia [1] and Ireland [2]) is a regulated market-based economic model that emerged in the 1970s based on the Chicago school of economics, spearheaded in the 1980s in the United States by the economics of then President Ronald Reagan (dubbed ...
The Industrial Revolution saw a rapid transformation in the British economy and society. Previously, large industries had to be near forests or rivers for power. The use of coal-fuelled engines allowed them to be placed in large urban centres. These new factories proved far more efficient at producing goods than the cottage industry of a ...
The social structure of the United Kingdom has historically been highly influenced by the concept of social class, which continues to affect British society today. [1] [2] British society, like its European neighbours and most societies in world history, was traditionally (before the Industrial Revolution) divided hierarchically within a system that involved the hereditary transmission of ...
The Blue Book 2013 reports that this sector added gross value of £31.4 billion to the UK economy in 2011. [149] In 2007 the UK had a total energy output of 9.5 quadrillion Btus (10 exajoules), of which the composition was oil (38%), natural gas (36%), coal (13%), nuclear (11%) and other renewables (2%). [166]
A 2008 meta-analysis found that democracy has no direct effect on economic growth. However, it has strong and significant indirect effects which contribute to growth. Democracy is associated with higher human capital accumulation, lower inflation, lower political instability, and higher economic freedom. [11]
Thatcher advocated an "enterprise society" in Britain, especially in widespread share-ownership, personal ownership of council houses, the marginalisation of trade unions and the expansion of private healthcare. These policies transformed many aspects of British society. [7]