She basically cut-off any funding to businesses / sectors relying on government aid and a lot went to the wall.QUOTE]
Creative destruction working its magic.
Contrary to popular belief amongst the statist governments of today, letting bad businesses fail is good.
Proping up zombie organisations is wealth destroying.
When bad businesses fail the employees, land and capital tied up in the firm can be used to better use in new profitable industries.
Proping up bad businesses is a short term measure that is destructive in the long term.
Letting bad businesses fail is a short term problem that is wealth creative over the longer term.
Everything Western governments are doing today (low interest rates, bailouts, quantitative easing) is short term good for our standards of living at the expense of the long term destruction of our strandards of living.
Every political party wants re-election so they screw our future in order to make the near term slightly better. The system is a mess.
Short term pain for long term gain. I have friends and family in Wales that were severely affected in the short term by the closing of mines and other industrial production. They all eventually retooled and found far more productive, better paying and less dangerous work.As someone who lived under that regime - she was a disaster - more poverty & misery.
It depends on what you mean by protecting workers' rights. In my opinion workers' rights have gone too far, and that employers' rights have been so adversely affected that they create less employment.Protocol - there is nothing wrong with protecting workers rights, I don't know when that became a bad thing.
What we experienced here is an industry protected from newly created competition by excessive costs of regulatory compliance. The value at risk of an industry failure is far hire when value of risk is concentrated into a few companies.We have experienced here what it is like when banks have been able to run-amok - not a good thing I think.
As someone who lived under that regime - she was a disaster - more poverty & misery.
Protocol - there is nothing wrong with protecting workers rights, I don't know when that became a bad thing.
We have experienced here what it is like when banks have been able to run-amok - not a good thing I think.
Without doubt the second greatest PM after Churchill.
Lived there in the late eighties and agree with most of your post, with one exception..............she hated the Irish with a passion
Sorry, I missed the economic point, she was fantastic for the economy. Took no guff from any sector, but for society it was pathetic. The Poll Tax riots were an example, and since she was ousted the general economy has been running in third gear.
Get taxed heavily if you work, dont work and you will be rewarded. We will create a massive safety net off borrowed money (to increase our voting electorate) that your children will one day pay for. Dont worry the tories will be in then to blame.
Lived there in the late eighties and agree with most of your post, with one exception..............she hated the Irish with a passion
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