Our love affair with markets will lead to ruin

WE now face into an election which is unlikely to result in substantial changes to the provisions of the budget and Finance Bill.

These provisions will ensure a massive transfer of wealth from not-so-well-off to very-well-off. Our own politicians, the IMF, the ECB and the EU have all told us there is now “no other show in town”. Given that the policies of the above pundits are likely to drive us into a long and deep recession, perhaps those same policies need to be looked at in their historical context.

By the 1950s, the US had very successfully come out of The Great Depression of the 1930s. Roosevelt had deliberately boosted employment with public works and increases in public service numbers. He had also improved social security, public healthcare, and worker’s rights provisions and pensions.