Here is a chart that makes Tony Blair look pretty good: crookedtimber.org/2015/08/12/up-… http://t.co/tZmgfJKveE—
Matthew Yglesias (@mattyglesias) August 13, 2015https://twitter.com/JimRose69872629/status/631759192596975616
Measures of inequality since 1961 #ifslivingstandards report ifs.org.uk/events/1161 http://t.co/LZUdRvAUUv—
IFS (@TheIFS) July 16, 2015
Utopia, you are standing in it!
Figure 1 shows stark differences between Sweden, France, Italy and the UK since 1970 in departures from trend growth rates of 1.9% in real GDP per working age person, PPP. Italy did quite OK until 2000 growing at about the trend growth rate of 1.9% after which it fell into a hole so deep that it barely notice the onset of the global financial crisis. Sweden really had been the sick man of Europe until it turned its back on high taxing, welfare state socialism in the early 1990s. France has been in a long decline so much so that the global financial crisis is hard to pick up in the acceleration in its long decline in the mid-1990s. Figure 1 also shows Britain did very well, both under the neoliberal horrors of Thatcherism and the betrayals by Tony Blair of a true Labour Party platform. The UK grew at…
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