Who has economic power in the UK? Answer these questions and leave ALL work completed today on the desk for interim assessment.

In the 20 and 21st Century, governments have regulated economic power in a variety of forms. They can nationalise industry They can privatised industry Can listen to / reduce the power of trade unions. Cooperate with multinational companies (e.g. Sony)

The economic power flits between groups and it is the governments job to make sure that they govern the economy in the interests of society.

Economic policy is one of the single most important issues to a party. If they get the economic balance right they are likely to retain power and popularity. (Remember, the balance is maintaining those 4 financial criteria)

The evolution of economic power Watch this clip: Privatisation and The Crusade of Popular Capitalism and use your own research to answer these questions. “Define privatisation.” Describe who Thatcher gave economic power to. Define the term “laissez-faire”. Who benefitted from privatisation? In what way do governments benefit from privatisation? In what ways does privatisation fail?

Watch: “What is a nationalised business” and use your own research to answer these questions. Define nationalisation Why do some businesses (like Northern Rock) need to be nationalised? Name 2 advantages and 2 disadvantages of this.

Why did governments in the 20th century need to manage the economy? In what ways did Thatcherism challenge this way of run the economy?