Friday, April 12, 2013
THATCHER AND THE ECONOMY
Glenda Jackson criticises Margaret Thatcher in Commons debate
1. I remember chatting to one of Margaret Thatcher's financial advisers about her closing down of some of Britain's manufacturing industry.
This gentleman replied that there was no need to worry as Britain's future lay with Britain's banks.
Modern Britain. www.jlb2011.co.uk
2. Thatcher survived because of SCOTTISH OIL.
That oil wealth was squandered.
Thatcherism saw child poverty grow by 121...
3. Britain should not go back to the future
By Martin Wolf in the Financial Times.
"The UK has been left an economy with a remarkably late-19th century look
"Today’s British economy is the legacy of Margaret Thatcher...
"By 2007, UK output per worker was 85 per cent of US levels, the same as in France...
"Prof Van Reenen notes important failures:
"Excessive financial deregulation
"And inadequate investment in both human and physical capital...
"Thatcher - like many who supported her - had a 19th-century view of the economy, rejecting most of what happened in the 20th century...
"It is not an accident that an effort by a forceful politician to reverse the interventionism of the 20th century has brought the UK so far back to this future.
"Thus, it has:
"Weak domestic manufacturing...
"And low private and public investment.
"It all looks remarkably late-19th century...
"The crisis has shown that the post-Thatcher economy was weaker than many believed."
Pope Francis linked to Exocet acquisition in Falklands War
Tapestry at the tap