Comments on: Trapped in the Economists’ World

By: Lucklucky

Lucklucky — Thu, 06 Feb 2014 19:58:19 +0000

The problem here is what we mean by Capitalism.

Mercantilism was a non free market Capitalism, prefered by Fascists and Socialists.

Communism is State Capitalism.

The only thing that Thatcher achieved was to stop Socialism for 10 years. Thatcher was an exception, since most politicians on the Right are from the Socialist Right, like Bush, Cameron, etc. Every one of them is happy with the state putting hands on 50% of GDP.

By: Magus Janus

Magus Janus — Thu, 06 Feb 2014 15:55:01 +0000

Labor upon gaining power in 1997 proceeded to ratchet up government spending (especially after 2000) such that by 2010 government spending as percent of GDP was right back to where it was in 1979 when Thatcher had begun her (necessary if flawed) reforms. Yes, there are plenty of other metrics to be used to gauge government intrusion into the economy, and on many issues the UK is freer than it was back then (state ownership of industry, capital mobility, etc.), but on others it is far less free (HR bureaucracy, aka affirmative action, sensitivity, etc., EU regulations, etc.). The notion that the UK somehow entered hypercapitalism under Thatcher is a bit laughable.

By: Anomaly UK

Anomaly UK — Wed, 05 Feb 2014 22:03:44 +0000

Maybe just trapped in the wrong economists’ world.

By: Toddy Cat

Toddy Cat — Wed, 05 Feb 2014 16:28:53 +0000

Whether made by the left or right, predictions of the State “withering away” somehow never seem to come true.