'How long can billionaires continue to amass wealth while the world's poorest struggle to buy food?'
of the country’s most wealthy – reporting the richest ten individuals and families have a combined £182bn.
What has happened since? The answer is widely recognized to be ‘neoliberalism’, an approach whose essence is that the true foundation of economic success is strong and determined competition, which a political system must work towards to have any chance of success. There are obviously losers from this system, but typically enough wealth will ‘trickle down’ to prevent serious opposition. It is a line of thinking that can reach the fervor of a religious belief and is certainly best seen as an ideology.
Both newly elected leaders were convinced of the need to embrace the new thinking. Throughout the 1980s, the US pursued a firm belief in the need to accelerate tax changes and financial deregulation, while Britain sought to control the trade unions and oversee the large-scale privatizations of state assets – Thatcher’s mantra being “there is no alternative”.
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