“Mitchell describes the rise of left and right wing extremist groups in Europe, the Brexit vote and the election of Donald Trump as a direct popular reaction to the immense human misery caused by neoliberal policies.” – Bingo!
Revenge of the Rich: The Neoliberal Revolution in Britain and New Zealand
by Austin Mitchell
Canterbury University Press (2017)
Revenge of the Rich, by British economist Austin Mitchell, describes how the neoliberal revolutions of Margaret Thatcher and New Zealand finance minister Roger Douglas virtually gutted the economies of the UK and New Zealand. The result has been years of declining or negative growth rates, virtual destruction of manufacturing, massive job loss, wage stagnation and higher deficits and overseas borrowing.*
As an article of faith, neoliberals maintain that mass layoffs of public service workers will reduce government deficits. The reality, as Mitchell ably demonstrates, is the exact opposite. When you lay off 400,000 public servants (as David Cameron did between 2010 and 2016), they quit paying taxes and increase government costs by claiming unemployment and other benefits.
Britain’s EU Membership: Setting the Stage
According to Mitchell, Britain’s decision…
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