- 11 Mar 2021 20:53
#15160605
Productivity declined catastrophically during the 1970s, @B0ycey, and the fabric of civil society was being frayed by the constant strikes and political conflict. This is why even working class people ended up voting for Thatcher in 1979. They were foolish, in my opinion, but I can sort of see why they did it. They'd had enough of the stalemate between the working class and the bosses. It wouldn't have been so bad if either side could actually win, but Keynesianism had set up a system where stalemate was the only possible outcome of any class conflict. Britain was trapped in a downward spiral in the 1970s. Thatcher "broke the wheel" by breaking the Keynesian consensus.
You actually take anything BoJo the Clown says seriously?
B0ycey wrote:Apart from the strikes, I don't see much difference in the 70s between both nations. If anything Britain was too reliant on coal and that money wasn't spent on progress that caused Britain to be the sick man of Europe Pote, not economic output.
Productivity declined catastrophically during the 1970s, @B0ycey, and the fabric of civil society was being frayed by the constant strikes and political conflict. This is why even working class people ended up voting for Thatcher in 1979. They were foolish, in my opinion, but I can sort of see why they did it. They'd had enough of the stalemate between the working class and the bosses. It wouldn't have been so bad if either side could actually win, but Keynesianism had set up a system where stalemate was the only possible outcome of any class conflict. Britain was trapped in a downward spiral in the 1970s. Thatcher "broke the wheel" by breaking the Keynesian consensus.
But we could debate that and still not agree so perhaps I ask you to address this instead. In the Budget of March 2020, Sunak announced billions being spent on infrastructure and Bojo's was talking about a new Deal. Why do you think they did that if Keynesianism is dead in the UK? Because it isn't. It was I suppose but Reagaonomics (Thatcherism) didn't work, austerity didn't work and the only thing that worked that we can be sure of was Kenyesianism as it got us through Post WW2 when borrowing was off the chart. That is why he is back. Because it works.
You actually take anything BoJo the Clown says seriously?
"Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies." - Marx (Groucho)