How did the UK transition from being the world's workshop to having the dependent, service-driven economy of today, prone to severe negative shocks and daunting economic challenges? In an urgent reality check that will embarrass politicians from all parties, hugely experienced economists Vicky Pryce and Andy Ross track the forces that have shaped the UK economy since the Industrial Revolution. Drawing on extensive front-line policy experience, they tackle complex issues such as the reaction to globalisation and the legacy of deindustrialisation; the responses to Brexit, Covid and the war in Ukraine; the impacts of climate change, inequality and immigration; and whether the lack of investment and low growth of recent years were, in fact, inevitable. Rather than placating populist sentiments with false promises, politicians must now be honest with the public about the difficult road ahead. After all, there will be no sudden economic reset. Advocating pragmatic solutions over political dogma, Mismanaged Decline proves that good economics heeds no ideology. At a time of rising geopolitical uncertainty, this balanced, non-partisan account offers a blueprint for a stronger, fairer and more resilient economy.
