The Seductions of Declinism
William Davies: Stagnation Nation, 4 August 2022
“... in Thatcher’s day) allows resentment to be nurtured that the British economy is being unfairly held back by a bunch of unelected technocrats.Britain is not experiencing an economic rerun of the 1970s. Long-run economic growth is lower, inequality far higher and the trade unions less powerful. Inflation, as yet, has nothing to do with wages rising too fast ... ”