Since the election of Margaret Thatcher’s Conservative government in 1979, Britain has undergone a great experiment. Economically, the UK became the exemplar of neoliberalism in Europe. Politically, the UK has quietly transitioned to a postnational state, undergoing one of the greatest demographic transformations in the West.
Although the landslide victory of Tony Blair’s “New Labour” in 1997 may have seemed like a return to the model of European social democracy that Britain exemplified after the Second World War, Blair’s “Third Way” represented rather the embrace of neoliberalism by the establishment Left, summed up nicely by their spokesman Peter Mandelson’s declaration that “we are all Thatcherites now”.
Under the leadership of both the Conservative Party and New Labour, Britain has transitioned from a traditional industrial and manufacturing powerhouse to a highly financialised rentier economy. The effects have been profound. The average Briton is considerably worse off and entire regions have been left behind at the same time London has become a booming centre of international finance. The UK has been denationalised by decades of mass-immigration and cultural leftism, and has become the prime example of “anarcho-tyranny”, where the state punishes minor offences and acts of dissent against the liberal consensus with extreme force, while serious crime runs out of control in major cities.
The Rentier Regime
The fundamental transformation in the British economy since the 1980s is the movement away from an economy that made things to an economy that made money . Up to then, Britain’s economic might had been centered on its manufacturing. Britain was the birthplace of the industrial revolution, and the dual expansion of its colonial empire and rapid advances in engineering allowed for the creation of a vast trading network, where colonies provided the raw materials and markets for British manufacturing. Northern English cities like Manchester, Sheffield and Newcastle became manufacturing powerhouses serving the world.
…The graph below demonstrates the explosion in London-based financial services in delivering growth for the British economy
UPDATE: This is an exceptionally good article. It covers much more than even a longish sample can convey. I highly recommend reading it. It has clarified and altered my understanding of the UK. ABN
American Buddhist Net 