How successful were Conservative economic policies during the period from 1951 to 1964?
Level
A Level
Year Examined
2021
Topic
Britain 1930-1997
👑Complete Model Essay
How successful were Conservative economic policies during the period from 1951 to 1964?
The Success of Conservative Economic Policies: 1951-1964
The period from 1951 to 1964 saw the Conservatives in power in the UK, under the leadership of Winston Churchill and Harold Macmillan. This era witnessed significant economic changes, with a mix of successes and failures. This essay will evaluate the effectiveness of Conservative economic policies during this period, considering both arguments for and against their success.
Arguments for Success
Conservative economic policies can be considered successful in several key areas:
⭐Increased Spending on the NHS: The Conservatives consistently increased funding for the National Health Service, leading to significant improvements in healthcare provision. This was a popular policy that contributed to their electoral success.
⭐Economic Growth and Living Standards: The post-war period saw a period of sustained economic growth, particularly during the 1950s. This was driven by factors such as government spending, increased consumer credit, and the Korean War boom. As a result, living standards rose significantly, with improvements in housing, car ownership, and access to consumer goods.
⭐Low Unemployment: Unemployment remained low throughout the 1950s, a testament to the government's focus on maintaining full employment. This was achieved through a combination of Keynesian economic policies and government intervention in industries like coal mining.
⭐Housing and Credit: The Conservative government introduced policies designed to stimulate home ownership, including the establishment of the Housing Corporation and the expansion of mortgages. This facilitated a significant expansion of homeownership, raising living standards and contributing to the post-war economic boom.
⭐Electoral Success: The Conservatives consistently won elections throughout this period, a reflection of the public's satisfaction with their economic policies. The economic growth, full employment, and improved living standards contributed greatly to their electoral success.
Arguments Against Success
While there were successes, several arguments suggest that Conservative economic policies were not entirely successful:
⭐Stagflation: The 1960s saw the emergence of stagflation, a combination of slow economic growth and high inflation. This period was marked by economic instability, with the government struggling to control inflation and unemployment.
⭐"Stop-Go" Policies: Critics argue that the Conservatives lacked a coherent economic policy, instead relying on "stop-go" policies. These policies involved alternating between periods of fiscal expansion and contraction, leading to economic volatility and hindering long-term growth.
⭐Insufficient Investment: The government failed to adequately invest in key industries like textiles and shipbuilding, which were facing significant challenges in the face of global competition. This lack of investment contributed to their decline and the loss of jobs.
⭐Borrowing and Consumer Credit: The economic growth of the 1950s was partly driven by increased borrowing and consumer credit. While this boosted spending, critics argue that this was unsustainable and created a dangerous reliance on debt.
⭐Slow Growth and Industrial Decline: Although the UK experienced growth, it lagged behind other European economies, particularly Germany and France. This was attributed to the government's focus on short-term gains and failure to invest in research and technological development, ultimately leading to industrial decline.
Conclusion
The Conservative economic policies during the period from 1951 to 1964 were a mixed bag. While they presided over a period of economic growth, low unemployment, and improved living standards, they also failed to address fundamental economic challenges, creating an unsustainable reliance on borrowing and leading to a decline in key industries. The emergence of stagflation in the 1960s further highlighted the shortcomings of their economic approach. In conclusion, while the period saw some success, the Conservative government's policies ultimately failed to lay the foundations for long-term economic stability and prosperity.
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How successful were Conservative economic policies during the period from 1951 to 1964?
Introduction:
Briefly outline the key features of Conservative economic policies from 1951-1964. Mention the main arguments for both success and failure, setting the stage for your analysis.
Arguments for Success:
1. Electoral Success and Public Perception:
- Conservatives won four consecutive general elections, suggesting public approval of their economic management.
- Highlight the role of economic prosperity in securing these victories.
- Mention any specific policies that resonated with voters (e.g., homeownership schemes).
2. Rising Living Standards:
- Discuss the increase in real wages and disposable income.
- Provide statistics on homeownership, consumer goods ownership (e.g., cars, televisions), and leisure activities.
- Analyze the impact of these changes on the quality of life for different social groups.
3. Expansion of the Welfare State:
- Acknowledge the continuation and expansion of welfare programs initiated by Labour.
- Focus on increased spending on the NHS as a key success.
- Analyze the impact of these policies on public health and social mobility.
4. Low Unemployment:
- Present statistics on unemployment rates throughout the period.
- Explain the factors contributing to low unemployment, such as post-war recovery and government policies.
- Acknowledge any regional disparities in unemployment.
5. Benefits from Global Trends:
- Acknowledge the role of external factors like the global economic boom following the Korean War.
- Discuss how Conservative policies capitalized on these favorable circumstances.
Arguments for Failure:
1. "Stop-Go" Economics and Lack of Long-Term Planning:
- Explain the concept of "stop-go" economics and its destabilizing effects.
- Argue that the Conservatives lacked a cohesive long-term economic strategy, reacting to events rather than shaping them.
- Provide examples of policy shifts that highlight this reactive approach.
2. Relative Economic Decline:
- Compare Britain's economic growth rate to that of other European countries during this period.
- Highlight the widening gap and argue that Conservative policies failed to keep pace with international competitors.
3. Underinvestment and Industrial Decline:
- Provide evidence of underinvestment in key industries like shipbuilding and textiles.
- Discuss the consequences of this underinvestment, such as job losses and reduced competitiveness.
- Compare Conservative policies to those of other countries that successfully modernized their industries.
4. Neglect of Research and Development:
- Analyze the level of government investment in scientific research and technological innovation.
- Argue that this neglect hampered long-term economic growth and technological advancement.
5. Economic Problems in the 1960s:
- Discuss the rise of inflation and unemployment in the early 1960s.
- Analyze the extent to which these problems were a result of earlier Conservative policies.
- Mention the balance of payments crises as evidence of underlying economic weakness.
Conclusion:
- Provide a balanced summary of the arguments for and against the success of Conservative economic policies.
- Avoid sitting firmly on the fence; offer a nuanced judgment on their overall effectiveness.
- Consider the long-term consequences of these policies and their impact on subsequent governments.
Extracts from Mark Schemes
Answers that it was a success
They might consider that they were able to use economic policy to help win elections. They might also consider that it was successful in allowing increased spending on the NHS. They might also consider the policies around credit and housing which improved the standard of living. They might also consider that they gained from the recovery following the Korean War and the ending of austerity. They might also consider that unemployment remained low in the 1950s. They might also consider that the policy was a success as living standards rose.
Answers that it was not successful
They might also consider that the period has been described as one of stagflation. They might also consider that their policies slowed down recovery and growth and increased the deficit. They might also consider that there was not enough investment in major industries such as textiles and shipbuilding. They might also consider that they did not invest sufficiently in industrial research. They might also consider that growth was less than elsewhere in Europe. They might also consider the problems of unemployment and inflation. Unemployment rose in the 1960s. They might also consider that success was based on borrowing and consumer credit which was dangerous. They might also consider that there was no overall policy and the government simply responded to events with stop-go policies. They might also consider that they failed to create a strong economic base.