Date: 07 Mar 96 21:20:19 EST
From: Jon Flanders <72763.2240-AT-compuserve.com>
Subject: Reply to: Re: NY Times, dem.rights, etc.


 >>  Today, British industry is a wreck, but the City of London thrives. Is it
hard to imagine the US following a similar course? <<Doug Henwood

 Jon F:

 Wait a minute. What about the stories I hear about Britain's low wage status
making it the "Enterprise zone of Europe" or some such. Isn't that what the
Tories claim? Has there been a wave of investment in new plants in Britain?
Wages might be wrecked, but from a capitalist point of view things might look
quite well. What are the facts on this?

 Couldn't we say that the point of Thatcherism and Reaganism here, was
precisely to drive down wages to the point that new investment could become
possible? I remember a recent Sunday NYT article on Britain along these lines.

 I guess I am contradicting my previous point about "healthy" investment, but
couldn't the scorched earth policy on wages eventually lead to a favorable
climate for new industry? Then you could have new state of the art plants with
non-union labor lined up ready to compete with the previous leaders like Japan
and Germany.

 Best, Jon Flanders





  E-mail from: Jonathan E. Flanders, 07-Mar-1996




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