NotSpaghetti
Casdon yes I know about this but I was talking about the pre-Blair period when John Major pushed the sale of British Rail through (and sold shares too cheaply.
I think they knew they were likely to lose the election but by breaking BR into over 100 separate companies (track, rolling stock, and franchises) and then signing long-term contracts, they made renationalisation difficult (and expensive) for a future government to undo. I don't think it was the collapse of the infrastructure that made ig impossible but the deliberately messy way the Tories chopped it up.
After the Hatfield rail crash Labour did replace Railtrack with Network Rail of course, because that wasn't broken into lots of pieces.
I wasn't blaming Labour upthread. I did blame Blair at the time because, as I said upthread, I thought he was moving too far to the right...
but I still feel that selling off of assets is almost always going to be a bad thing.
Water,
Rail
Housing,
Energy...
Of course we also made the wrong choices re oil in the 1970s/80s, The UK and Norway took diametrically opposed paths and now they are reaping the rewards. Thatcher made tax cuts - Norway developed a massive Pension Fund - now worth £1.2 trillion.
Let's hope we come back to fund development of renewable energy. We started off very well with this until the funding of researchin the field started to dtop off. ... 🤞
Good post, NotSpaghetti but I fear that while ever the greater mass of voters prefer to ignore the fact that economic policy is the key to how a government acts and responds to pressure we will get absolutely nowhere and will continue to decline.
It's interesting that there is a surge to the right, when it was the right, under Thatcher, which introduced what has now become economic orthodoxy (but which was 'new' at the time ); an economic system which worked to destroy all the gains made by post WW2 governments. It is Thatcher's 'economics' pursued by successive governments which has produced the conditions which are driving voters to right wing Reform (and worse) with the belief that Reform can change their lives for the better. Yet Reform will implement the Thatcherite economic inheritance with a vengeance.
Yet any attempt to point out that there a different way of managing the economy, that the current orthodoxy is inherently wrong, is met with scorn, derision and disbelief.
Or a refusal to even acknowledge that economics plays a key part in the situation we find ourselves in.
We can see its effects globally, for the 'orthodoxy' has spread worldwide, notably in the US, but also in poor countries encumbered with foreign debt and with their resources exploited by international companies to enrich their shareholders with no benefit to the country being exploited.
Let's hope we come back to fund development of renewable energy. We started off very well with this until the funding of research in the field started to drop off
It won't happen because, thanks to Thatcher's 'running a country's economy is like running a household economy' myth the cry comes "We can't afford it".
I can't see a way out...