This volume brings together economists and political scientists to present an assessment of the new government policies known as "Thatcherism", which have dominated the 1980s. Contributors focus on the underlying political economy and the role and purpose of the state in the economy.

Here, distinguished contributors focus on four principal subjects: value judgments and welfare economics; freedom, distribution, and the welfare state; instrumental efficiency and politics; as well as applications of the state in economics.

'The general standard of these papers is high. They are clearly written, free of technicalities, and judicious.' Robert Sugden, Economic Journal