Why are we having this discussion about the US election when the Chinese are about to switch leaders? Aren't we asking for a say about Xi Jinping? For that matter, what say do Americans get about the President of the European Union, German Chancellor or Russia President? Answer none. Yet all are very significant in global terms.
Prof Skidelsky ignores the basic fact that much of Labour has been exported and not simply replaced with automation. iPhones, for example, are made as much by hand as by automation. What has happened is that nearly everything that involves unskilled labour on a production line has left the UK (and US) and is now made mostly in Asia where the wages rates are a tenth of what they are here.
How ironic that George Soros played such a large role in forcing the UK to leave the ERM, the precursor to the European Single Currency in the early 90s. Perhaps if he had not done so, the UK would today use the € rather than the £. The Eurozone would be in much better shape if the Uk was part of the Euro club. The UK would both have offset German dominance and insisted that the rules of the Euro club were followed from the get-go. Solidarity cuts both ways - the Greeks, Spanish and Italians should have followed the rules of the Euro Club from the get-go. No wonder the Germans feel so betrayed and reluctant to bail out these recidivist fiscal cheaters.
America’s Global Election
Why are we having this discussion about the US election when the Chinese are about to switch leaders? Aren't we asking for a say about Xi Jinping?
For that matter, what say do Americans get about the President of the European Union, German Chancellor or Russia President? Answer none. Yet all are very significant in global terms.
Labor’s Paradise Lost
Prof Skidelsky ignores the basic fact that much of Labour has been exported and not simply replaced with automation.
iPhones, for example, are made as much by hand as by automation.
What has happened is that nearly everything that involves unskilled labour on a production line has left the UK (and US) and is now made mostly in Asia where the wages rates are a tenth of what they are here.
A Europe of Solidarity, Not Only Discipline
How ironic that George Soros played such a large role in forcing the UK to leave the ERM, the precursor to the European Single Currency in the early 90s.
Perhaps if he had not done so, the UK would today use the € rather than the £. The Eurozone would be in much better shape if the Uk was part of the Euro club.
The UK would both have offset German dominance and insisted that the rules of the Euro club were followed from the get-go.
Solidarity cuts both ways - the Greeks, Spanish and Italians should have followed the rules of the Euro Club from the get-go. No wonder the Germans feel so betrayed and reluctant to bail out these recidivist fiscal cheaters.