...The big idea of the post-1970s right in Britain and the US was that everyone would acquire a stake in capitalism, through home ownership (and treatment of houses as speculative investments); money-purchase pensions, where what you got depended on the stock market; modest ownership of shares or bank "products" linked to share indices; and opportunities, created by deregulation, to shop around for "deals" on services such as power supply, phones, savings rates and insurance. We would all, at least in our private lives, become members of the bourgeoisie, naturally sympathetic to "wealth creators" and their political allies. It may be true that only 1% are truly rich, but most of the 99% owe what wealth they have to houses and other tradeable investments, even if they are not always aware of it....
Thursday, 6 September 2012
Peter Wilby's interesting analysis of neo-liberalism
Posted by Christopher at 16:46