A succinct summary since Thatcher started it off with the “Trickle down promise”.
Economics – how hard can it be?
I am no economist.
However as a mere human being, with nothing like the vast intelligence of our esteemed leaders, I am trying to understand “economics” as implemented by Mrs Thatcher and her most recent apprentice Mr G Osborne.
Just to set the scene – and I cannot guarantee all the details – the Anglo Saxon approach since Thatcher/Reagan (and before) has been to pass control over industry and commerce to private sector banks, finance houses and corporations. It was promised that the wealth would trickle down to the rest of us.
Everything for sale
In the UK that meant the selloff, at bargain prices, of British Telecom, the entire energy supply, water, rail, British Aerospace, Cable and Wireless, British Steel, Rolls Royce, Jaguar, British Petroleum, British Airways, British Leyland, Associated British Ports, Enterprise Oil, British Coal, British…
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