From Larry Elliott this morning:
The pressures on the so-called "squeezed middle" are now intense. These pressures will not be eased without pro-growth macro-economic policies, activist industrial strategies, stronger unions, higher real incomes across the board, and tougher action against inequality. A return to the Anglo-Saxon model will lead to stagnation, higher unemployment and even bigger public-sector deficits.
Spot on.
Now it's time to deliver.
I guess I should disclose Larry and I are both members of the Green New Deal group.
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I am amazed that it has taken so long for the problems of the ‘squeezed middle’ to be discussed. This has been evident in the US for decades and as usual where the US leads the UK almost always follows. The Anglo- Saxon economic model is a complete disaster for the majority of the population, but has further enriched those at the top. The Labour Party really need to focus on this to counter the right wing argument and flush out some good policies. Unfortunately times are likely to get much tougher here and abroad unless this model is dramatically reformed.
Why the term Anglo-Saxon? It you look at exactly who is what in the City of London or Wall Street or the connected elements in Washington DC then you will see very few people who are characteristically A/S. Moreover, if you look at the Anglo-Saxons, who really were that long ago, their social and financial structures were nothing like the ones you criticise, quite the reverse. Remember that the A/S were subject to a hostile takeover by a Norman French conglomerate from which many of our troubles stem, especially their Scottish branch.