We are pleased to publish a new SPERI Paper by Jack Copley on the role of competition and ideas in Britain’s abolition of capital controls which took place between 1977-9.
In his paper Jack seek to challenge this conventional wisdom regarding the role of competition and ideas in capital control liberalisation through a close historical examination of Britain’s abolition of exchange controls. These controls were scrapped in four stages, involving both the Thatcher administration and its Labour predecessor over the years 1977-9. The paper argues that rather than this deregulatory policy being chiefly motivated by a desire to promote the City of London’s global prospects or by an ideological commitment to the free market, the explanation for this liberalisation must be sought in the stagflation crisis that confronted policy-makers during this time
Jack Copley is a doctoral researcher and teacher in the Department of Politics and International Studies at the University of Warwick. His research explores the British state’s role in propelling financialisation through archival analysis of key financial de-and re-regulations. He has recently published in New Political Economy and Capital and Class
Download SPERI Paper No. 42: The role of competition and ideas in Britain’s abolition of capital controls, 1977-9.
Jack has also written about the abolition of Britain’s capital controls in a new blog for SPERI which you can read here.