New Labours Economic Policies - Essay Example

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New Labours Economic Policies

Barry and Patterson analyse New Labour's approach to globalisation as aimed to create opportunities for ecological modernisation and in some policy areas and hinder in some others. Thus Labour's focus on globalisation has its own advantages and disadvantages as far as environmental policy measures are concerned. Some of the prime areas of development are renewable energy strategy, transport policy and genetically modified food. The issues of environmental degradation and environmental policy measures have direct implications for globalisation and thus it is important to consider environmental aspects of globalisation within labour policy measures.
Environmental consequences of globalisation apart, the prospects of ecological modernisation relates to social and political dimensions of New Labour's policies. Hopkin and Wincott (2006) suggest that the discourses on the challenges of globalisation often lack the social dimension to explain the liberalised markets on the one hand and the slow growth and high unemployment in other regions. ...Show more

Summary

New Labour's economic policies are focused on sustained economic growth for the country, emphasis on cutting down inflation and unemployment rates and use of measures to cope with globalisation for the best economic interests of UK (labour.org,2006). New Labour has also focused on globalisation as the best political strategy for promoting British economic growth…
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