'Thatcherism' - still up-to-'date?

I don't think it is accurate to describe Germany's economy as "wreched" as Paul Krugman said, but I do believe that a liberqalization of employment law and a loosening of the too comfortable safety net that helps sustain a chronically high unemployment rate would do Germany some good. I don't believe that government ownership of production and vital services is as widespread in Germany today as it was when the "Iron Lady" took the reins of government in the UK, so that aspect of the problem may not apply.

The Western world is increasingly in the grip of an economic recession that in some areas has gone so far as to induce deflation. To a large extent this will pass with the economic cycle. To an unknown (to me) degree some persistent issues may underly it (declining population, the absence of external threats, unresolved banking issues in Japan and other places) and may be a cause for more thoughtful consideration. For all of these elements, Germany is but a part of a larger and more widespread problem.

Walter I have to agree with the translation.

In the late 70.s Britain was well and truley the sick man of Europe, when Thatcher cae to power in 1979, she transformed the coutry pretty much to what it is today, by de nationalising stagnant industries and giving millions the chance to purchase their council owned homes, they ordinary people something to work for and most important she smashed the union stronghold on the country. The labour government did not get a look in for near on 20 years and Tony blair has carried on the same path of de regulation and privatisation, In fact they are almost conservative in thier ideals.

I think Germany made a mistake of going headlong in a European state with France Using Germany for her own ends, Germany had the added responsibility of taking in the Communist East, which put a great strain on West Germany's economy, the European Union could have done more to assist Germany in unification.

Germany MUST deregulate and de nationalise and accept difficuld welfare cuts in spending, it will be very difficult but the Mark was once mighty and could be again. The Euro currency is a mistake and will soon fail.

Well, london, I don't agrre, especially regarding the Euro.

I've listened and talked to people with different oponions in the UK than yours. Actually, I'v not met one with speaking like this - which certainly has to do with the people I know there.

Happy new year Walter.

Only time will tell.

Hello Walter

Thatcher-type "reforms"? Sure, OK for big business & the wealthy investor , but not so wonderful for the less fortunate in any society, say nothing of normally publicly funded enterprises.
We've had a heavy dose of these so called reforms here in Victoria, Australia ... It has been devastating for the poor, the sick, the elderly, those that rely on public education, etc, etc.
It has been depressing to see so many publicly owned enterprises privatised or corporatised, the theory being that private enterprise does these things better than government. Now these services cost the public far more AND apparently require government subsidy as well! So who received the advantages?

To me, it depends on what sort of society one values ... Sure, wealth was created in Britain under Thatcher, but what percentage of the population gained from this? What did the "reforms" achieve in improved living standards for most people?

mmh, msolga, that's what I've heard and thinking of.

Walter

The name of the game is user pays - whether it be to the former government-owned bank, the formerly publicly owned gas/electricity, to use a new stretch of freeway (connected to the publicly owned one, but built by a private company), a visit to your doctor, etc., etc ....
On top of that there are "service charges" added to just about every bill you receive for basic service. The idea is if you want the best service you should pay for the private one. Many public services (like education, transport, hospital care, etc.) have been allowed to be run down to the point where they are often supplying a 2nd rate service now. The idea is to encourage people to use the private alternative, or else put up with a inferior public product/service.
And workers? In the name of "world class practice" or "productivity reforms" working hours have been greatly increased with wages held back & an increase in unemployment. ( Then call the unemployed "dole bludgers"!) Workers regularly work unpaid over-time.

Who benefits from all this? The corporate bosses & the executives. It's scandalous, really. It makes my blood boil!

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