Delete comment from: Life Behind the IRon Drape
Thatcher saved the economy from slow decline, her economic policies accelerated the decline.
http://www.guardian.co.uk/politics/datablog/2013/apr/08/britain-changed-margaret-thatcher-charts
Hayek in his polemic indicated that the economy would function better on a free-market. What we observe from the data however is, massive interest rate instability, declining wages for the majority, growing inequality and a housing boom which started as she entered office and eventually popped in 2008. This accompanied by frequent crashes in the economy and growing instability. Its hardly surprising that the cost of living came down, the servant class were being remunerated poorly.
Since you like house hold analogies for the economy, if you pay your children a smaller allowance and make them complete more house hold chores, then we could claim that this household is experiencing an economic miracle?
Sensible people are hardly going to accept this policy on the grounds given, its incredibly bad for the vast majority.
Apr 12, 2013, 5:43:02 PM
Posted to Premise Checking Chris Trotter: Mining, Protest, Indigenous Rights, Externalities, Free Markets.