Originally posted by univofchicago
My goodness....
Where should I start? Since you brought up the "Tories" (I'm guessing you mean Thatcher's administration?), I will talk briefly about Thatcher's economic policies and then go back to your friend's fundamental question about whether the policies allowed the elite to exploit the under-privileged.
Without going into too much detail, I will outline the major economic policies that were behind the so called "Thatcherism":
- Commitment to freeing up the market
- More focus on monetary policy to control inflation
- Allow for more public ownership (in shares and assets)
- De-regulation of certain industries to bring more competition and increase efficiency
- Reduce the size of government
- Reduce the power of trade unions
All the above were ideas strongly advocated by Milton Friedman well before the early 80's when there was a wide polarization of opinion. Now, the above ideas are accepted in almost every economics department in the world. If you disagree with the any of the policies above, then you are disagreeing with virtually the entire economics profession. The ideas should be clear to anyone (Econ major or not) who has taken Econ 101.
Let me know if you disagree with any of the above polices, I'll be more than happy to explain it for you.

Where should I start? Since you brought up the "Tories" (I'm guessing you mean Thatcher's administration?), I will talk briefly about Thatcher's economic policies and then go back to your friend's fundamental question about whether the policies allowed the elite to exploit the under-privileged.
Without going into too much detail, I will outline the major economic policies that were behind the so called "Thatcherism":
- Commitment to freeing up the market
- More focus on monetary policy to control inflation
- Allow for more public ownership (in shares and assets)
- De-regulation of certain industries to bring more competition and increase efficiency
- Reduce the size of government
- Reduce the power of trade unions
All the above were ideas strongly advocated by Milton Friedman well before the early 80's when there was a wide polarization of opinion. Now, the above ideas are accepted in almost every economics department in the world. If you disagree with the any of the policies above, then you are disagreeing with virtually the entire economics profession. The ideas should be clear to anyone (Econ major or not) who has taken Econ 101.
Let me know if you disagree with any of the above polices, I'll be more than happy to explain it for you.

I like girls and boobies
the next day lol

Comment