Celebrating humanity's flourishing through the spread of capitalism and the rule of law
13 Sep 2015 2 Comments
in economic history, labour economics, Marxist economics, poverty and inequality Tags: British economy, Leftover Left, Tony Blair, Trish Labor Party, welfare state
Under Tony Blair the incomes of the UK's poorest families increased by more than under any other Prime Minister. http://t.co/8Uh8GBqbRB—
Tom Forth (@thomasforth) September 12, 2015
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Oct 05, 2015 @ 22:34:13
Reblogged this on The Political Economy of Development and commented:
The failure of ‘trickle-down’ economics. While inequality in the UK rose under Thatcher, the poorest families saw virtually no increase in their disposable income over the same period. So much for the theory that making the rich richer will make everyone else richer too.
Under Tony Blair, inequality stabilised, but the incomes of the poorest rose significantly. Both these trends were due to redistribution through the tax system. Had the government not intervened, inequality would have risen further and the poorest would have seen far less improvement in their incomes.
The current government is about to cut tax credits significantly, which will hit the poorest the hardest once again. So much for compassionate conservatism.
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Oct 05, 2015 @ 23:57:15
thanks but The UK grew at above the trend annual growth to 1.9% for most of the period from the early 1980s to 2007.
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